NEW YORK — Stocks are closing with solid gains as Wall Street puts the finishing touches on one of its best months of the year. The S&P rose 0.7% while the Dow Jones Industrial Average was up 188 points, or 0.4%. The Nasdaq added 0.8%. Friday was an abbreviated trading day, with stocks closing at 1 p.m. ET and the bond market an hour later. Investors were looking to see how much shoppers are willing to spend on gifts for the holidays.
Investors are waiting to see how willing shoppers are to spend on gifts for the holidays. Black Friday unofficially kicks off the holiday shopping season, although retailers have been offering early deals for weeks. Macy’s rose 1.9% and Best Buy gained 2.8% while Nordstrom fell 0.6%. The S&P 500 has risen more than 6% this month, boosted by Tesla and other stocks that received a boost from Donald Trump’s win in the presidential election. Discover Financial Services leads a list of financials stocks having a good November, up 0.4% Friday and 23.5% for the month as investors believe the credit card company's merger with Capital One has a greater chance of going through under Trump.
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