Stocks Near Record Highs Lift Market Amid Rate Bets
U S stocks rose led by names tied to lower interest rates and a stronger economy. The S&P 500 gained 0.3 percent, the Dow rose 440 points, and the Nasdaq edged up 0.3 percent as Treasury yields eased. A Trump comment on Besent for Treasury Secretary sparked a “Bessent bounce” helping risk assets. The two-year yield retreated while traders reassessed Fed cut expectations ahead of a key inflation report due Wednesday.
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Thanksgiving travel expected to surge nationwide
Airports and highways will be busy during Thanksgiving week with AAA estimating about 80 million Americans traveling at least 50 miles from home between Tuesday and the following Monday. Delays may arise from weather, staffing shortages, and a possible airport workers strike, while shipping firms anticipate 2.2 billion packages from Thanksgiving through December 31. Therapy dogs roam airports to help anxious travelers as holiday travel nears with Thanksgiving on November 28.
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Biden trims part of Intel federal funding package
The Biden administration plans to reduce portion of Intel eight point five billion dollar direct funding and eleven billion in loans for chip plants. The move echoes other CHIPS and Science Act measures aimed at boosting U S semiconductor manufacturing while balancing military supply commitments.
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Stores Open or Closed for Thanksgiving and Black Friday
Major retailers plan varied hours with many closed on Thanksgiving and extended openings on Black Friday. Grocers and clubs will operate with adjusted times, while chains like Kohl's J.C. Penney open early from 5 to 7 am. Check local hours.
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