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Photo: Xinhua/Qin Lang via Getty Images

The S&P 500 and Dow Jones Industrial Average reached record highs Thursday thanks to sharp gains by Amazon and Apple, as well as diminished concerns over the scale of the U.S.-China trade war.

Why it matters: A handful of stocks continue to drive the market to record highs. Some market-watchers worry about the lack of breadth in the market, and what could happen if and when there is a rotation out of these stocks.

Go deeper

Updated 31 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President-elect Joe Biden and Vice President-elect Kamala Harris have arrived at the Capitol. Members of congressional leadership and VIPs will soon be introduced. Watch a livestream here.

What's next: Biden and Harris will take their oaths of office. Shortly after, President Biden will deliver his inaugural address. What to expect.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Momentum builds for major antitrust reform

Illustration: Aïda Amer/Axios

President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.

Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.

Updated 3 hours ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.