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Wall Street starts Thanksgiving week with solid gains

FXStreet (San Francisco) - The US stocks market closed positive on Monday as investors are still digesting measures from China and the ECB as well as assuming the low gas prices will help the optimistic sentiment and more purchases during the Thanksgiving season.

The Dow reached the break-even just before the closing bell, while the S&P finished at a record high and the Nasdaq performed it best day of November. All eyes are focused on the Opec meeting on Thursday.

Earlier in the day. Goldman Sachs $GS erased Costco $COST from its Buy Conviction list. The wholesale corporation initially declined but it recovered all losses and closed the day little positive. Tesla $TSLA and BMW $BAMXY announced they will sign a deal to have a battery production plant in Germany in 5-6 years; Barron's said Intel $INTC to rise 30% in 2 years.

By sectors, Consumer discretionary rose 1.05% on the day, followed by Technology (+0.64%) and Financials (0.58%). To the downside, laggards were energy (-0.82%), Utilities (-0.73%) and Materials (-0.55%).

Big movers were China Life Insurance $LFC (+4.53%), Alibaba $BABA (+2.88%) and Banco Santader $SAN (+2.94%). Among others, $APPL and $BRK.B reached fresh 52-week highs.

The Dow Jones advanced 7.84 pts or 0.04% to finish the day at 17,817.90; the S&P 500 added 5.91 pts or 0.29% to close at 2,069.41; while the Nasdaq Composite climbed 41.92 pts or 0.89% to end the session at 4,754.89. Russell 2000 added 14.52 to +1.24%.

Crude Oil declined for the first time after three positive session as the energy fell to close at $75.66. The gold traded in consolidation mood around the 1,200 area but it performed negative on the day after losing 0.03% to 1,197.00.

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