Stocks ended the month of November on a high note as Wall Street saw solid gains. The S&P 500 rose 0.6% and the Dow Jones Industrial Average gained 0.4%, with both indexes closing out the month with their best performances of the year. The Nasdaq also added 0.8% on Friday. Investors were watching consumer spending as the holiday shopping season officially kicked off with Black Friday. Retailers like Macy’s and Best Buy saw gains, while Apple rose 1.1% on hopes of strong holiday sales for iPhones.
The Dow had its best month in November, rising 7.5%, with Walt Disney Co. leading the way with a 22.1% gain. The S&P 500 also gained 5.7% driven by stocks like Tesla benefiting from Trump’s win. Meanwhile, Tesla’s CEO Elon Musk also boosted the stock market with his support of Trump. Global markets mostly fell, with Chinese markets advancing. Bond yields fell and Bitcoin saw some volatility, briefly reaching $98,000.
Overall, November was a strong month for the stock market, with investors optimistic about holiday spending and the impact of the presidential election on various industries.
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