What happened to the stock market Wednesday: More records on Street

Dow Jones Industrial Average rises 42 points

The Dow gained 42.32 points, or 0.15%, to close at 28,164.00. The S&P 500 advanced 0.42% to 3,153.64. The Nasdaq Composite climbed 0.66% to 8,705.18. Stocks notched fresh record highs following the release of strong economic data.

Durable goods orders jump

The Commerce Department said durable goods orders rose 0.6% in October after a 1.4% drop in September. Weekly jobless claims, meanwhile, posted a surprise drop. Those positive data sets helped maintain the positive market sentiment that has been building in recent weeks. To be sure, Wednesday’s session was more quiet than usual as many traders had already left for the Thanksgiving holiday.

Apple and Under Armour drive gains

What happens next?

The market will be closed on Thursday and Friday’s session ends at 1 p.m. However, investors will keep an eye on consumer stocks such as Macy’s, Kohl’s and Gap as Black Friday sales rage. The S&P 500 could also notch its biggest one-month gain since June on Friday. Read more here.

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