Stocks rally higher as Dow eclipses 30,000 The major averages continued to rally ahead of the Thanksgiving holiday, with the Dow Jones Industrial Average topping 30,000 for first time during Tuesday's trading. Vaccine optimism has underpinned expectations for a return to normal next year, helping the market look past the current surge in infections and return of restrictions. Also, steps toward the formal transition to the Biden presidency has appeared to support sentiment. ECONOMIC EVENTS: In the U.S., the Conference Board's Consumer Confidence Index declined to 96.1 in November from an upward revised 101.4 in October, which was much weaker than forecast. The S&P Case Shiller 20-city house price index climbed 1.2% to 232.5 in September. The Richmond Fed manufacturing index plunged 14 points to a 15 reading in November after jumping to 29 in October. TOP NEWS: Shares of Best Buy ($BBY) were 7% lower despite the company's report of what CEO Corie Barry called "remarkable" comparable sales growth of 23% along with earnings and revenue that beat consensus forecasts. While "once again reporting strong quarterly results in the midst of unprecedented times," according to Barry, Best Buy CFO Matt Bilunas said the company is not providing financial guidance "due to the significant uncertainty related to the various impacts of the pandemic." In M&A news, McCormick ($MKC) announced an agreement to acquire the parent company of Cholula Hot Sauce from L Catterton for $800M in cash. McCormick, which expects the transaction to be completed by the end of the calendar year, sees the deal being accretive to adjusted earnings per share in 2021. Meanwhile, shares of movie theater operators such as AMC Entertainment ($AMC), Cinemark ($CNK), and IMAX ($IMAX) moved higher after Cineworld ($CNNWF), which owns the U.S. Regal cinema chain, secured an additional $750M in financing to help absorb the damage from COVID-19 closings and restrictions. MAJOR MOVERS: Among the noteworthy gainers was O-I Glass ($OI), which rose 9.3% after BofA analyst George Staphos upgraded shares to Buy from Neutral. Also higher was Dollar Tree ($DLTR), which gained 14.1% after reporting quarterly results. Among the notable losers was SmileDirectClub ($SDC), which declined 3.6% after its 10M share block trade priced at $11.75. Also lower was Hormel ($HRL), which fell 5.8% after reporting quarterly results. Reviewing Tuesday's economic data:The Conference Board's Consumer Confidence Index dropped to 96.1 in November (Briefing.com consensus 96.5) from an upwardly revised 101.4 (from 100.9) in October.The key takeaway from the report is that consumers going into 2021 don't foresee the economy and the labor market gaining strength, as attitudes about business conditions for the next six months have worsened.The September S&P Case-Shiller Home Price Index increased 6.6% (Briefing.com consensus 5.5%) following a revised 5.3% increase in the prior month (from +5.2%).The September FHFA Housing Price Index increased 1.7% following a 1.5% increase in the prior month.Looking ahead, investors will receive a massive amount of data on Wednesday, most notably the weekly Initial and Continuing Claims report, New Home Sales for October, Personal Income and Spending for October, and the FOMC Minutes from the November meeting. Nasdaq Composite +34.2% YTDS&P 500 +12.5% YTDRussell 2000 +11.1% YTDDow Jones Industrial Average +5.3% YTDMarket SnapshotDow30046.18+454.97(1.54%)Nasdaq12036.70+156.15(1.31%)SP 5003635.43+57.84(1.62%)10-yr Note -2/320.884NYSEAdv 2341 Dec 738 Vol 1.2 blnNasdaqAdv 2396 Dec 1174 Vol 6.2 blnIndustry WatchStrong: Energy, Financials, Industrials, Materials, Communication ServicesWeak: Real Estate, Health CareMoving the Market-- Dow hits 30k, Russell 2000 and S&P 500 close at record highs-- Cyclical sectors retained leadership roles-- Incremental good news-- Momentum, fear of missing out, greed, prevailing optimism about 2021Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.If you liked this article, please click the LIKE (thumbs up) button.Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so).Follow us/bookmark us and check back occasionally for additional articles or comments on our page...Wild Tiger Trading - start/main page..Want to trade some of these stocks?Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? Many traders have the skills and nerves to trade, but not the upfront capital. Well now that problem is solved!Try2BeFunded has expanded its trading program! If you're a novice or experienced trader, you can earn access to a trading account with up to $100,000! To learn more about how to qualify, click HERE and give it a shot! You have nothing to lose it is free to try.Give Try2BeFunded a try!.