Best November in Decades

Today is the final trading day of November 2020 and it looks to be a very good month for stocks. Through Friday, the S&P 500 was up over 11% this month. The indexes are down so far today, but nothing too troubling. Our Buy List is down but not as much as the overall market.

There’s not much in the way of economic news today. The pending-home-sales report showed a decrease of 1.1% for October. That’s not too bad. Over the past year, contract signings are up over 20%.

We’ll soon get the key turn-of-the-month data reports. ISM is tomorrow. ADP comes out on Thursday. Initial claims is Thursday, and the big official jobs report is on Friday. The economy has been showing some early signs of weakness. I think it’s premature to call it a trend, but more data will give us a better look.

Here’s a look at the monthly gains of the S&P 500.

Posted by on November 30th, 2020 at 11:47 am


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