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Finding peace with market highs

Monday, November 25, 2013 - 02:00

Nov. 25 - Summary: Dow inches to record high, Nasdaq briefly breaks 4,000; Oil prices fall on Iran deal; Investors hungry for higher ''Hunger Games: Catching Fire'' ticket sales; Wal-Mart picks new CEO; More changes at BlackBerry top. Conway G. Gittens reports.

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A peace dividend after the West and Iran reach a nuke deal, lifting the Dow to a record high. And it was the Nasdaq's turn to revisit a milestone. The tech-heavy index briefly touching 4,000 for the first time since September 2000. If you think the market's rise is giving investors a nose bleed, think again, Stephen Wood of Russell Investments still sees value in certain segments. SOUNDBITE: STEPHEN WOOD, CHIEF MARKET STRATEGIST NORTH AMERICA, RUSSELL INVESTMENTS (ENGLISH) SAYING: "I would be looking at things in the United States, for example and in North America, that are associated with the energy complex. I would be looking for infrastructure plays, certain areas of the consumer. I would also be looking at manufacturing. And we also see that extended plays on government spending, which is going to bounce back in 2014, would be a good theme." Oil prices fell but finished off their lows of the day as analysts question how fast or rather how long it will take for Iranian oil to return to global markets. Crude oil prices in the U.S. ended down by only 75 cents. On to Hollywood now, here's an example where you can be a hit at the box office but a miss with investors. "The Hunger Games: Catching Fire" made history in terms of opening weekend ticket sales, but Wall Street was banking on an even stronger debut. By the way, more than $300 million in worldwide box office take is hardly something to be ashamed of. Shares of Lions Gate tumbled more than 10 percent. Wal-Mart has picked the head of its international unit to take over day-to-day operations for the world's largest retailer. Doug McMillon takes over next year. Top of his agenda: how to win in the physical fight with Target and beat back competition from online giant Amazon. More changes at BlackBerry. Three top executives are out as a new CEO gets his strategy ready as the device maker fights for its survival. European stocks bounced higher as investors bet the region's companies are better suited to benefit from relaxed sanctions against Iran.

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Finding peace with market highs

Monday, November 25, 2013 - 02:00