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Wall Street on another record run

Monday, 25 Nov 2013 | 5:57 AM ET


The Dow and S&P 500 come off record Friday closes, featuring the S&P's first-ever close above the 1,800 mark. With seven straight weeks of gains behind them, the Dow is on track for its biggest yearly gain since 1993, while the S&P would chalk up its biggest annual advance since 1998.


The final trading week of November is a shortened one, with U.S. markets closed for the Thanksgiving holiday Thursday and open for a half day of trading on Friday.


Just one economic report of note to begin the week, with the National Association of Realtors issuing its October report on pending home sales at 10 a.m. ET. There are no earnings reports of note out this morning, with a small list of after-the-bell earnings include Nuance Communications (NUAN), Palo Alto Networks (PANW), and Workday (WDAY).


J.C. Penney (JCP) leads our list of stocks to watch, as it will be replaced in the S&P 500 after the close of trading November 29. Ingersoll-Rand (IR) is spinning off its commercial and residential security unit, Allegion (ALLE), to shareholders as of that date, with Allegion then replacing J.C. Penney in the S&P 500 and Ingersoll-Rand remaining in the index. Penny will move to the S&P MidCap 400, replacing Aeropostale (ARO).


Boeing (BA) is soliciting bids from possible locations for production of its 777X jet, with the company hoping to make a final decision in early 2014. Separately, Boeing has issued a warning about General Electric (GE) engines that power its 787 Dreamliner and the newest versions of its 747, saying those jets should avoid high-altitude thunderstorms that can lead to icing. General Electric said it has formulated a solution and is working that solution through the regulatory process.


Jones Group (JNY) is in talks to be bought by private equity firm Sycamore Partners, according to Reuters. The price being discussed for the apparel retailer is about $1.3 billion, or less than $16 per share.


Google (GOOG) is reportedly in discussions with at least one eyewear company about creating fashionable frames and prescription lenses for its Google Glass wearable computing device. The Dow Jones report said talks are in the early stages and there is no formal agreement as yet.


Yahoo (YHOO) will name Katie Couric as its "Global News Anchor" today, according to All Things D.


Apple (AAPL) is said to have completed a deal to buy chipmaker PrimeSense for $350 million. There have been prior reports that such a deal was complete, but All Things D reports Apple has confirmed the acquisition. PrimeSense is the company behind the chips used to power Microsoft's Xbox Kinect technology.


Speaking of Xbox: Microsoft (MSFT) said it sold more than one million Xbox One videogame consoles in the first 24 hours after its Friday launch.


Tesla Motors (TSLA) chief executive Elon Musk told the Associated Press he's confident federal safety investigators will clear the company when they finish looking into two recent fires involving Tesla's Model S.