For investors, it was a November to remember. The Dow Jones Industrial Average (DJIA), closed November with an 11.8% gain. This was the best November result for the Dow Jones since 1928 and the best single month for the index since January 1987. The Dow Jones also closed above the 30,000-point barrier for the first time ever on November 24th, closing this week at an all-time high of 30,218.
The S&P 500 rose by 10.7% in November and closed this week at an all-time high of 3,699.20.
The Nasdaq rose by 11.8% in November and also closed this week at an all-time high of 12,464.23. For 2020 year-to-date, the Nasdaq has risen nearly 39%.
Not to be outdone, the S&P TSX Composite posted a double-digit November (10.3%) of its own and is now in the black for 2020 YTD, up 2.68%.
There are a number of reasons for optimism that drove markets upward in November. The conclusion of the U.S. election clarified who will occupy the White House for the next 4 years. Also, several pharmaceutical companies announced their respective COVID-19 vaccine candidates had completed Phase 3 trials with strong efficacy rates.
This week, the United Kingdom became the first country to approve a COVID-19 vaccine that had been tested in a large clinical trial. The road has now been paved for the U.K. to begin a mass inoculation campaign. U.K. Health Secretary Matt Hancock expects the U.K. will receive its first shipment of 800,000 vaccines “within days” and stated that people will begin receiving shots shortly after the National Health Service receives the vaccines.
Weekly Update – By The Numbers
|North America||Friday Close||Weekly Change||Weekly % Change||YTD % Change|
|Canada – S&P TSX Composite||17,521||124||0.71%||2.68%|
|USA – Dow Jones Industrial Average||30,218||308||1.03%||5.89%|
|USA – S&P 500||3,699||61||1.68%||14.48%|
|USA – NASDAQ||12,464||258||2.11%||38.91%|
|Gold Futures (USD)||$1,842.10||$36.40||2.02%||21.19%|
|Crude Oil Futures (USD)||$46.07||$0.36||0.79%||-24.73%|
|CAD/USD Exchange Rate||€ 0.7773||€ 0.0093||1.21%||0.95%|
|Europe / Asia||Friday Close||Weekly Change||Weekly % Change||YTD % Change|
|MSCI World Index||2,640||39||1.50%||11.96%|
|Switzerland – Euro Stoxx 50||3,539||11||0.31%||-5.58%|
|England – FTSE 100||6,550||176||2.76%||-13.31%|
|France – CAC 40||5,609||11||0.20%||-6.17%|
|Germany – DAX Performance Index||13,299||-37||-0.28%||0.38%|
|Japan – Nikkei 225||26,751||106||0.40%||13.08%|
|China – Shanghai Composite Index||3,445||37||1.09%||12.95%|
|CAD/EURO Exchange Rate||€ 0.6399||-€ 0.0045||-0.70%||-6.77%|
|Fixed Income||Friday Close||Weekly Change||Weekly % Change||YTD % Change|
|10-Year Bond Yield (in %)||0.9690||0.0910||10.36%||-49.50%|
Source: Yahoo! Finance, CNBC.com, Dynamic Funds, CBC.ca
This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any