Dow, S&P Reach Record Highs On Light Trading Day; Crude Falls Again

On Wednesday, November 26 the Dow Jones Industrial Average and the S&P 500 closed at record highs, while the Nasdaq reached a 14-year high. For bluechips, Pfizer (PFE) and Intel (INTC) helped push the Dow higher, while Analog Devices (ADI), Mylan Inc. (MYL) and Facebook (FB) lifted the S&P 500. Shares of Hewlett-Packard (HPQ) closed up over 4%, despite missing expectations on fourth quarter revenue. Crude prices continue to fall and closed at $73.69 per barrel. Ahead of the Thanksgiving holiday, a variety of economic data was released, from durable goods, which rose in October, to a rather disappointing report on jobless claims which increased by 21,000 last week. Consumer spending jumped 0.2%, while a report from the National Association of Realtors said pending home sales dropped 1.1% in October. TheStreet's Scott Gamm reports from New York.