STOCKS HIT FRESH RECORD HIGHS: Here's what you need to know

The Dow Jones Industrial Average and S&P 500 continued to break through to new highs as US markets get ready to take a break for the Thanksgiving holiday.

The Nasdaq, however, found itself in the red on a busy day for US economic data.

Before we get to the headlines, here is the scoreboard:

• Dow: 19.081.29, +55.81, (+0.29%)
• S&P 500: 2,204.11, +1.13, (+0.05%)
• Nasdaq: 5,377.55, -8.60, (-0.16%)
• WTI crude oil: $47.99, -$0.04, (-0.08%)

1. The Federal Reserve's November minutes indicate a rate hike is coming soon. The rundown of the Fed's conversation from their meeting in early November said interest rates would go up "relatively soon." The market has been pricing in near certainty of a Fed rate hike at their December meeting.
2. Two biopharmaceutical companies got bad news about trials for new treatments. Eli Lilly's phase three trial for an Alzheimer's drug showed that it was ineffective compared to a placebo in slowing cognitive decline. A phase two trial from Juno Therapeutics to treat leukemia was halted after a patient died of cerebral edema, or a build up of fluid in the brain.
3. Deere posted stronger than expected earnings. The firm posted earnings per share of $0.90, against expectations of $0.39 per share. The stock surged over 11% for the day.
4. Consumer confidence surged. The University of Michigan's consumer sentiment index jumped to 93.8, higher than the 91.6 expected by economists. According to the survey, a number of respondents cited the end of the election as a reason for the improved outlook.
5. The US manufacturing industry firmed. The Markit manufacturing flash PMI came in at 53.9 for the month of November, higher than the 53.4 expected by analysts.
6. Durable goods orders smashed expectations. Orders on goods lasting more than a year jumped 4.8% in October, 1% stripping out transportation. Economists had expected growth of 1.7% and 0.2% respectively.
7. US homes continued to grow in value, while new home sales fell last month. The FHFA home price index ticked up by 0.6% in September, matching estimates. New home sales for October, however, fell 1.9% from the month before, more than the 0.5% drop expected.
8. The Baker Hughes oil rig count rose again. The rig count jumped by 3 to 474, the highest level since January.

ADDITIONALLY:

No, the good US economic data is not because of Trump's win, but it is because of the election.

What could kill the Trump-fueled rally in the US dollar.

The top 0.1% of Americans have as much wealth as the bottom 90%.