The Associated Press
November 13, 2013

News Summary: Dow, S&P 500 back at record highs

HOLIDAY CHEER: Stock indexes climbed back into record territory Wednesday after Macy’s gave an optimistic forecast for holiday sales. That helped lift retail stocks, including J.C. Penney, Nordstrom and Target.

MIXED DEBUTS: Chegg, an online textbook rental company, flopped on its first day of trading, slumping $2.82, or 22.6 percent, to $9.68. Extended Stay America, a hotel operator, did much better in its own market debut, rising $3.87, or 19 percent, to $23.87.

FED FOR THOUGHT: Investors are still wondering when the Federal Reserve will start reducing its economic stimulus. They will closely follow Thursday’s confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke.

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