Stock futures traded lower overnight on Sunday as the market looks set to end at the end of November with historically strong gains.
Futures on the Dow Jones Industrial Average fell 80 points. S&P 500 futures are down 0.1% and Nasdaq 100 futures are up 0.2%.
At the pace for its best monthly performance since January 1987, the Blue-Chip Dow has risen 12.9% so far this month, as confidence in easy economic reopening through promising vaccine growth has increased. The S&P 500 and Nasdaq are up 11.3% and 11.9%, respectively, in November, both on track to post their biggest monthly update since April.
Cyclone zones, those economically vulnerable groups, have led the market to a November rally amid much positive news of the vaccine. Energy, the biggest decline in 2020, rose 33.8% this month, while finance, industrial and materials grew at least 13% during the period.
Small caps have erupted this month as investors have entered peat down value names. Russell rallied 20.6% on track for his best month so far in November 2000.
Chief Investment Officer Chris Zackerelli said, “The rally is significant because despite the negative news flow of covid cases across the country and lockdown in various parts of the country, the shift in value from growth continues to gain momentum.” At Independent Advisor Affiliation.
Markets are coming off a record-setting holiday week in which the 30-stock Dow advanced 30,000 milestones for the first time. The benchmark has since gone below the threshold. Both the S&P 500 and the Nasdaq closed at fresh record highs on Friday.
Still, investors continue to monitor the coronavirus epidemic that has caused U.S. More than 266,000 people have been killed. The nation’s top infectious disease specialist Dr. Anthony Fawcett said Sunday that U.S. The epidemic is going through a difficult period in which restrictions and travel advisers will be needed.
Los Angeles County in California imposed a new stay-home order on Friday as cases are on the rise in the country’s most populous country. Meanwhile, New York City’s public schools will reopen on December 7.
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