NEW YORK (TheStreet) --If the Thanksgiving meal tomorrow doesn't get you excited about the holiday season, perhaps today's market performances will. The Dow Jones Industrial average, S&P 500, and Russell 2000 all closed at record highs on Wednesday.
The Nasdaq, however, sat the rally out on Wednesday and finished a tenth of a percent lower.
One key trend in Wednesday's session was the price of gold; the precious metal dropped to its lowest levels in around nine months, consequently, the dollar continued to strengthen.
"If we have this kind of dollar strength, will large cap, multinational companies with a lot of revenue exposure outside the U.S. start to look towards the higher dollar as a headwind to earnings moving forward," CNBC's Dominic Chu asked during this afternoon's "Closing Bell."
However, with the drop in gold, Chu noted the impact it is having on the rest of the stock market.
"We noted today that some of the gold mining stocks, which are more levered to gold prices, taking bigger hits than other parts of the market today," Chu said pointing to the GDX.