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S&P 500 and Dow post Black Friday gains, closing out Wall Street’s best month of 2024

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Stocks posted solid gains as Wall Street put the finishing touches on its best monthly performance of the year.

The S&P 500 rose 0.6% while the Dow Jones Industrial Average gained 0.4%. Both indexes closed out November with their best monthly performances of the year. The Nasdaq added 0.8%. 

Friday was an abbreviated trading day, with stocks closing at 1 p.m. ET and the bond market an hour later.

Investors were looking to see how much shoppers are willing to spend on gifts for the holidays, with forecasts that shoppers could break spending records in 2024, with the typical consumer expected to spend more than $1,000, a 14% increase from last year. Black Friday unofficially kicked off the holiday shopping season, although retailers had been offering early deals for weeks. 

Macy’s and Best Buy each gained around 2%, while Apple rose 1.1%. The technology giant is hoping recently added artificial intelligence features are enough to entice consumers to treat themselves or their relatives to a new iPhone for the holidays.

“Black Friday officially kicks off an important holiday season for Apple as its flagship iPhone 16 represents the beginning of its Apple Intelligence launch with the release of 18.2 likely next week,” Wedbush analyst Dan Ives wrote in a Nov. 29 research note. 

He added, “Our view is Apple’s AI rollout over the next few months kick-starts a new era for Cupertino as ultimately hundreds of AI driven apps get built by developers on top of the building blocks of Apple Intelligence.”

The Dow and S&P 500 in November

The Dow rose 7.5% in November, easily its best month of 2024. The Walt Disney Co. has the biggest percentage gain for the month at 22.1%, but the price-weighted index also got a boost from Goldman Sachs, up 17.5% to $608.57 and Salesforce, up more than 13% to $329.99.

The S&P 500 gained 5.7% this month, driven by Tesla and other stocks that received a boost from Donald Trump’s win in the presidential election. 

Discover Financial Services leads a list of financials stocks that had a good November, up nearly 23% for the month despite a small loss Friday. Investors believe the credit card company’s merger with Capital One has a greater chance of going through under a Trump administration and overall the financial services industry faces less restrictive oversight.

Tesla shares rose 3.7% Friday and posted a monthly increase of more than 38%. The electric vehicle maker is expected to benefit from CEO Elon Musk’s support of Trump.

Musk also gave a boost to Hasbro shares after he triggered takeover speculation when he asked in a post on X how much the toy and game company was worth. Hasbro, which owns the role-playing game Dungeon & Dragons, rose 2%.

Bond yields fell, with the yield on the 10-year Treasury slipping to 4.19%.

Bitcoin ends month near $100,000

Bitcoin, which recently made a run at $100,000 before dropping back, briefly rose back above $98,000 but was recently trading around $97,300.

Global markets mostly fell. Tokyo’s Nikkei 225 index fell 0.4% after the government reported that inflation in Tokyo, considered an indicator for national trends, was 2.6% in November, up from 1.8% last month mainly due to a surge in fresh food prices.

Chinese markets advanced. Hong Kong’s Hang Seng index gained 0.3%. Meanwhile, the Shanghai Composite index rose 0.9%. Gains in retailers’ stocks drove market gains after a two-day meeting in Beijing focused on promoting consumption ended on Thursday.



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Hiker missing for more than 5 weeks in Canadian wilderness is found safe

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Hiker missing for more than 5 weeks in Canadian wilderness is found safe – CBS News


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A 20-year-old hiker who went missing for almost six weeks in the Canadian Rocky Mountains was found alive this week and is recovering in a hospital. He was found on a service road Tuesday, frostbitten and using walking sticks for support. Tom Hanson has the extraordinary story.

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Police officer killed in shooting in Chicago suburb; suspect in custody

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Oak Park Police detective shot and killed in the line of duty


Oak Park Police detective shot and killed in the line of duty

04:22

OAK PARK, Ill. (CBS) — An Oak Park police officer was shot and killed Friday morning while responding to a report of a man with a gun leaving a bank. The suspect also was shot by police, and has been taken into custody.

Oak Park Police Chief Shatonya Johnson said Detective Allan Reddins, 40, had been with the Oak Park Police Department since May 2019. He was the first Oak Park officer killed in the line of duty since 1938.    

“This is the worst day of any chief of police,” Johnson said. “Our police department, we’re hurting right now. I’m hurting. His family is hurting. Please keep us in your prayers.”

Around 9 a.m., Reddins responded to a call of a man with a gun leaving the Chase Bank in the 1000 block of Lake Street, according to Johnson. Reddins and other officers came across the suspect in the 800 block of Lake Street, and told the man to show them his hands.

The gunman brandished a handgun and shot Reddins in the left side. Officers returned fire, shooting the suspect in the leg.

Reddins was taken to Loyola University Medical Center in critical condition, where he was pronounced dead at 10:10 a.m. The suspect also was being treated at Loyola.

The shooting caught people in Oak Park off guard, and left bullet holes in the windows at the village’s main library, which was closed to the public after the shooting.

A witness said she was at the UPS store nearby when she heard someone storm out of a store and then heard what sounded like gunshots.

“I knew it was gunshots. I didn’t want to believe that,” she said. 

Nicholas Gradishar said us he was walking to a friend’s house nearby when he heard gunshots.

“I get down after I hear the shots, and then I come to the library to see it littered with cops,” he said.

Gradishar said he saw police take the suspect into custody after he’d been shot.

“They were checking his pockets. They found a little handgun, but off to the side there was an ARP with a flashlight. So I don’t know which one he used to shoot at the cops, but he had multiple guns on him,” he said.

Gradishar recorded footage of the suspect on the ground with a gun nearby. Moments later, parademics took him away on a stretcher.

“Nothing happens up here. You may find a fight or so, but nothing like this will ever happen here. So it’s wild,” he said.

A police procession took Reddins’ body from the hospital to the Cook County Medical Examiner’s office Friday afternoon. Dozens of police officers and firefighters from Chicago, Oak Park, and other suburbs stood at attention and saluted as the ambulance arrived and Reddins’ body was escorted inside.  

Johnson said Reddins leaves behind a 19-year-old son, along with his mother and siblings. 

The chief described him as a “natural-born leader, devoted father,” saying she personally conducted Reddins’ background check before hiring him as an officer in 2019.

“I quickly identified that he had a talent that was needed here,” she said. “He closed substantial cases, and helped us to resolve countless incidents. He was a natural,”

Before joining the Oak Park Police Department, Reddins also had served with the Metra Police Department. He’d been a detective in Oak Park since 2022.

“I thought he would make a phenomenal field training officer as well, and I was looking very much forward to him becoming a sergeant. He was just a natural leader,” Johnson said. “He would always take the extra step, go the extra step, and that’s huge, to say what else can be done?”

Investigation into the incident was ongoing Friday evening. Johnson declined to say if the shooting was captured on video, but said Oak Park officers are equipped with body cameras.

Information on Reddins’ funeral arrangements will be posted on the Oak Park village website once they have been made.



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Blast of winter weather hitting much of U.S.

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Blast of winter weather hitting much of U.S. – CBS News


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Many people heading home from Thanksgiving celebrations will have to contend with heavy snow and bone-chilling cold this weekend in several portions of the U.S. Meteorologist Paul Heggen has more.

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