By The Associated Press
Nov. 30, 2017
NEW YORK (AP) — Wall Street finished November with a broad rally that gave the Dow Jones industrial average its biggest gain since March and pushed it past the 24,000 mark for the first time. Other market indicators also reached milestones on Thursday. The market has been rallying this year because of a strong global economy, solid corporate profits and, more recently, improved prospects for a tax overhaul that would benefit U.S. companies.
Even with stocks at record highs, experts see 'Santa' jump
NEW YORK (AP) — Stocks are already at record highs as November comes to a close — but there may be room for more gains. Experts think strong investor optimism, economic data, and potential tax cuts could all contribute to a 'Santa Claus rally" in December, typically the strongest month of the year for stocks.
OPEC, allies extend production cut through 2018
VIENNA (AP) — The oil ministers from the OPEC cartel and a group of non-OPEC partners have agreed to extend crude output cuts until the end of 2018 to keep supplies tight and bolster prices. The policy already has led to a significant uptick in oil prices over the past year. The 24-nation alliance also gave notice that it stands ready to revisit the move if further price hikes bring U.S. shale operators rushing back into the market. The extension created a rare consensus between Saudi Arabia and Iran.
Google's phones and other gadgets have had a bumpy ride
SAN FRANCISCO (AP) — Google prides itself on developing simple, intuitive software that seems to know what you want almost before you do. But it's in a very different world when it comes to its own phones and other gadgets. Its new Pixel smartphones, smart speakers and wireless earbuds have all suffered some early problems. Those hiccups served as a high-profile reminder of Google's inexperience in consumer electronics — a field where Apple has a 40-year head start.
GOP tax bill gains support; Senate leaders work on holdouts
WASHINGTON (AP) — Senate Republican leaders are wrangling with the last few GOP holdouts as they push toward passing the first major rewrite of the nation's tax code in more than three decades. It's a package that would impact rich and the poor as well as businesses big and small. Senate Majority Leader Mitch McConnell of Kentucky says he expects a final vote late Thursday or early Friday.
GOP pressing plan to avert government shutdown on Dec. 8
WASHINGTON (AP) — House Republican leaders are looking to pass a short-term spending bill to avoid a government shutdown next week and keep the government's doors open through Dec. 22. With the additional time, the GOP hopes talks with Democrats over spending and immigration could produce a longer-term agreement.
GM to launch self-driving vehicles in big US cities in 2019
DETROIT (AP) — General Motors Co. expects to carry passengers and deliver goods with self-driving vehicles in big cities sometime in 2019, telling investors it's moving quickly and plans to be ahead of other automakers and tech companies.
US joins trade fight against China at WTO
WASHINGTON (AP) — The United States is joining a fight against China at the World Trade Organization in a decision likely to ratchet up tensions between Washington and Beijing. The U.S. is supporting the European Union in a dispute over China's status at the WTO. The United States and EU contend that the Chinese government continues to interfere so heavily in the country's commerce that China remains a "non-market" economy.
Holiday shopping: Desire for deals, but some impulse buying
NEW YORK (AP) — Shoppers so far this holiday season look to be showing a desire for deals but also an inclination for some impulse spending. More than one-third of shoppers surveyed by a retail trade group planned to make all their purchases on sale over the big holiday weekend. But retail expert Marshal Cohen said based on what he and his team saw, "there's no question there was more impulse buying and self-gifting."
American says it has found pilots for most Christmas flights
DALLAS (AP) — American says it now has only a few hundred Christmas-break flights without pilots, but union says the situation appears worse. The pilots' union had said that a scheduling mix-up left 15,000 flights in late December lacking one or both pilots. American plugged the gap with on-call pilots and by paying overtime.
The S&P 500 index climbed 21.51 points, or 0.8 percent, to 2,647.58. The Dow jumped 331.67 points, or 1.4 percent, to 24,272.35. The Nasdaq added 49.58 points, or 0.7 percent, to 6,873.97. The Russell 2000 index of smaller-company stocks picked up 1.84 points, or 0.1 percent, to 1,544.14.
Benchmark U.S. crude added 10 cents to settle at $57.40 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 46 cents, or 0.7 percent, to close at $63.57 a barrel in London. In other energy futures trading, wholesale gasoline was little changed at $1.73 a gallon. Heating oil shed 3 cents to $1.89 a gallon. Natural gas fell 15 cents, or 4.8 percent, to $3.03 per 1,000 cubic feet.