WEDNESDAY 11/26/14; SSEC 3-Year Record High; Hong Kong Unrest; ECB Says Sovereign Bond-Buying Will Occur Q1 2015; DE; Durable Goods; Personal Income and Spending; Chicago PMI; Consumer Sentiment; New and Pending Home Sales; German Bund Record Low Yield 0.731%; SPX, INDU and AAPL New All-Time Closing Highs; COMPQ Record 14-1/2 Year High; US Markets Closed Tomorrow for Thanksgiving Day

Asian markets start out sideways. Australian stocks float higher with the SPASX200 up +0.7% in the early going. The Aussie dollar is down to 0.8514 lows not seen for four years. Dollar/yen 117.81. Euro 1.2478. HMC is down -3% receiving a delayed negative reaction on the news yesterday of under reporting accidents to US regulators.

Hong Kong police clash with pro-democracy protestors. Pepper spray fills the air. Student protest leaders are arrested










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Utilities outperform with UTIL up +0.5%. The telecom sector is strong. IYZ +1.1%. VZ +1.4%. T +0.9%. Investors are running into the perceived safety of utility and telecom stocks for the dividends but will likely realize in the weeks ahead they are covering themselves with a fig leaf. SDY and DVY close at record highs verifying the rush into dividend stocks with traders willing to buy regardless of price. The US stock market is closed in observance of the Thanksgiving Day holiday tomorrow and will reopen at 9:30 AM EST Friday morning for a shortened session.

Protestors storm the St Louis court house as the race riots continue in Missouri but there are no injuries; simply a lot of pushing and shoving as tensions remain high after the grand jury decided to not indict the white police officer that shot the black youth.