STOCKS RALLY: Here's What You Need To Know

turkey, macy's 85th annual thanksgiving day parade, nyc, bi, november 24 2011, dng

Photo: Daniel Goodman / Business Insider

A quiet day ahead of Thanksgiving.First the scoreboard:

Dow: 12,836, +48.3, +0.3 per cent
S&P 500: 1,391, +3.2, +0.2 per cent
NASDAQ: 2,926, +9.8, +0.3 per cent

And now the top stories:

  • It was a quiet day of trading as America prepares for its Thanksgiving Day holiday.  However, the rest of the world was rather active overnight.
  • Japan’s latest trade report showed that exports fell 6.5 per cent in October, which was much worse than the 4.9 per cent decline expected.  Japan is the third largest economy in the world, and its economy is driven by exports.
  • One of the reasons why Japan is struggling is because of an ongoing political row with China.  Japan’s exports were weak largely due to a 12.3 per cent drop in auto exports, which included a 54.1 per cent plunge in auto exports to China.
  • Farm equipment maker Deere disappointed investors by missing on the bottom line in its fiscal Q4 earnings announcement. Earlier this month, Warren Buffett revealed a big stake in Deere in a Berkshire Hathaway 13-F regulatory filing.  John Deere Explains What’s Happening To The Global Agriculture Market > Earlier this month, Warren Buffett revealed a new position in Deere in Berkshire Hathaway’s latest 13-F filing. Read more:
  • Weekly initial jobless claims fell to 410k, which was right in line with expectations.  The number remains above that 400k level thanks to the lingering affects of Hurricane Sandy. But the good news is that those affects seem to be subsiding.
  • In fact, Hurricane Sandy may be starting to have a positive impact on the economy.  The Markit US Flash manufacturing PMI report unexpectedly jumped to 52.4 in November from 51.3 a month ago.  This was also much better than the 51.0 expected by economists.  From the report: “some panellists also commented on new work resulting from the aftermath of Hurricane Sandy.”
  • Don’t Miss: The 20 Stocks That Are Completely Dominated By Hedge Funds >

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