S&P 500 ends with best November ever; Dow Jones posts best month since 1987
- The major averages closed lower on the day, but notched historical
performances for November, driven by enthusiasm for vaccines accelerating
the economic recovery.
- The S&P 500 (SP500) -0.5% held on to record the best November in its
history. The S&P rose 10.9% this month, above the previous record, a
10.2%
gain seen in November 1980.
- The Dow Jones (DJI) -0.9% was the biggest beneficiary of the recovery
trade and notched the best month since 1987. It gained 11.9%.
- The Nasdaq (COMP) -0.1% had its best November since 2001. It gained
11.8%, compared with a 14.2% surge in the heart of the dot-com boom era.
- Today's trading was weak on month-end rebalancing as money managers
cashed in on some of the recovery trade outperformers.
- Airlines, cruise lines, department stores and energy stocks saw sharp
pullbacks for the session.
- Energy (NYSEARCA:XLE) was by far the best monthly performer in the
sectors, up more than 30%, although its impact on the broad index is
slight
compared to the homes of the megacaps. Financials (NYSEARCA:XLF) and
Industrials (NYSEARCA:XLI) followed.
- Defensive sectors trailed in November, with only Utilities (NYSEARCA:
XLU) in the red.
- But while lots of money flowed into the cyclical sectors, the megacap
winners showed resilience that helped the broad monthly gains. Tesla
getting tapped for the S&P helped it to gains of 38%. Amazon was the
weakest, but down just 3%.
- Crude futures -1% jumped 26% in November to top $45/barrel.
- Spot gold -0.7% ended the month down 5.4% and off 9% from when the
first vaccine efficacy numbers arrived.
|Today, 4:03 PM|9 Comments
- The major averages closed lower on the day, but notched historical
performances for November, driven by enthusiasm for vaccines accelerating
the economic recovery.
- The S&P 500 (SP500) -0.5% held on to record the best November in its
history. The S&P rose 10.9% this month, above the previous record, a
10.2%
gain seen in November 1980.
- The Dow Jones (DJI) -0.9% was the biggest beneficiary of the recovery
trade and notched the best month since 1987. It gained 11.9%.
- The Nasdaq (COMP) -0.1% had its best November since 2001. It gained
11.8%, compared with a 14.2% surge in the heart of the dot-com boom era.
- Today's trading was weak on month-end rebalancing as money managers
cashed in on some of the recovery trade outperformers.
- Airlines, cruise lines, department stores and energy stocks saw sharp
pullbacks for the session.
- Energy (NYSEARCA:XLE) was by far the best monthly performer in the
sectors, up more than 30%, although its impact on the broad index is
slight
compared to the homes of the megacaps. Financials (NYSEARCA:XLF) and
Industrials (NYSEARCA:XLI) followed.
- Defensive sectors trailed in November, with only Utilities (NYSEARCA:
XLU) in the red.
- But while lots of money flowed into the cyclical sectors, the megacap
winners showed resilience that helped the broad monthly gains. Tesla
getting tapped for the S&P helped it to gains of 38%. Amazon was the
weakest, but down just 3%.
- Crude futures -1% jumped 26% in November to top $45/barrel.
- Spot gold -0.7% ended the month down 5.4% and off 9% from when the
first vaccine efficacy numbers arrived.
|Today, 4:03 PM|9 Comments
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