- Stocks pushed to new highs, with the Dow racking up its 48th record close this year, propelled by strong U.S. data and a rally in shares of Apple; Nasdaq rose 44 points, nearly 1.1%, outpacing other indexes.
- Personal spending rose 0.5% in November, which bodes well for holiday sales, although personal income rose just 0.2%, falling short of expectations.
- Apple jumped 3.8% on its distribution deal with China Mobile, helping lift the tech sector; Facebook surged 4.8% on its first day of trading as part of the S&P 500, and Google, Oracle and Intel all rose more than 1%.
- Home builders and mortgage insurers powered higher on the delay of an expected mortgage fee hike.
- Treasury prices pulled back as traders shed holdings ahead of the Fed's planned reduction in its bond buying; the 10-year yield drifted up 4 bps at 2.929%, the highest yield since early September.
Stocks extend record run, Apple jumps on China Mobile deal
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