Wall Street nears new all-time highs as economy strengthens

Wall Street’s back to buying as stocks are bumping up against all-time highs, again. Catch The Final Round at 4 p.m. ET with Alexis Christoforous and markets reporter Myles Udland.

Winners and losers

Stocks in the red today include Amicus Therapeutics as the drug maker said it will need to collect more data for its experimental Fabry disease treatment; Malinckrodt as its generics segment posted a 19% revenue decline; and Shoe Carnival, with shares getting kicked to the curb as the shoe retailer warned of a decline in same-store sales for the holiday quarter.

Stocks getting a lift today include Thor Industries as the recreational vehicle maker beat on the both the top and bottom lines; VBL Therapeutics as the drug maker announced positive results for its thyroid cancer treatment, and UnitedHealthcare, with shares of the Dow component rising as the insurer gave strong 2017 guidance ahead of its analyst day.

Torsten Sløk on the Trump rally

The post-election rally continued today, but how much of the gains are really about Trump? And what’s next for the economy? Joining us to discuss is Torsten Sløk, chief international economist at Deutsche Bank.

Looking ahead

• At 8:30 a.m. ET the government will release personal income and outlays for October. The Core PCE Price Index, an inflation gauge closely watched by the Fed, is expected to rise 0.1% month over month.

• Oil traders will be closely watching headlines coming out of Vienna, where OPEC is holding its latest meeting. So far the market is unconvinced an output deal will be reached.

• Finally tomorrow night in New York, it’s the 84th annual Rockefeller Christmas tree lighting ceremony. The 94-foot Norway Spruce will be lit by Alec Baldwin and SNL star Kate McKinnon, with performances by Tony Bennet, Garth Brooks, and Dolly Parton.