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Dow Cracks 28,000 With Final-Minute Push

Dow Cracks 28,000 With Final-Minute Push

Renewed hopes for a trade deal with China overshadowed disappointing economic data on Friday and powered the major blue-chip indices to new all-time highs. A worse-than-expected industrial report showed American output fell by 0.8% in October, and the October retail report revealed a disappointing 0.1% uptick once automobiles and gas sales were backed out. However, White House economic adviser Larry Kudlow, speaking about his latest meeting with trade officials, said late Thursday that, while an initial deal isn't done yet, "we're getting close" and "talks have been very constructive." That's ultimately what resonated with investors. The Dow jumped by 0.8% to 28,004, crossing the 28k mark for the first time within the final minute of Friday's session. The S&P 500 (+0.8% to 3,120) and Nasdaq (+0.7% to 8,540) followed suit to fresh perches of their own.

Two of Friday's winners rallied on an entirely different spark: The Warren Buffett seal of approval. Buffett's Berkshire Hathaway (BRK.B) filed its latest 13F -- a form that discloses all of its equity positions -- and revealed a pair of new holdings: Occidental Petroleum (OXY, +3.2%), which currently is engaged in one of the year's biggest M&A moves, and RH (RH, +7.6%), which most of us know as Restoration Hardware. Those weren't Buffett's only trades. Check out Berkshire's third-quarter portfolio moves to learn more about Buffett's newest holdings and to see which stocks he trimmed or cut outright. And if you want to get a deeper understanding for everything that Buffett is invested in right now, take a look at the updated Berkshire Hathaway portfolio -- all 48 holdings -- to examine where Buffett's strongest convictions lie, why he's held some stocks so long and which picks are close to getting cut from his roster.

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