Friends
November ended up being a very good one for the stock market, though it did close on a bit of a sour note today. More than reading anything nefarious into today’s proceedings, it might be best explained by saying that after the advance we have seen since the election, investors might be a bit out of gas.
For the day, the Dow Jones Industrial Average was down 271 points to close at 29,638. The S&P 500 was down 16 points to finish the day at 3,621. The Nasdaq Composite Index was down 7 points to close at 12,198. Gold was down $7 to trade at $1,780 per ounce, while oil was down $.30 to trade at $45.23 per barrel WTI.
December tends to be a good month for stocks historically (though we do remember just 2 years ago a December that was historically bad), but after such a great November it is possible that we borrowed December’s gains already. But this is 2020, and as we know, anything goes. Let’s buckle up and see what December has in store for us.
Have a nice evening everyone.
