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On the last day of November, the Dow Jones index fell around one percent. However, it can not take from it a major milestone: The best month since January 1987.
While the technology index Nasdaq and the broad collective index S&P 500 have long since recovered from the fall in the corona crash in February and March, industrial Jones Dow Jones has suffered a bit.
But after Pfizer and BioNTech announced in early November that their vaccine was over 90 percent effective, and Moderna shortly afterwards followed up with even better efficiencies, the Dow Jones was able to declare on November 16 that the entire fall had been recovered.
In November, the Dow Jones has risen over 11 percent. Both the S&P 500 and the Nasdaq have risen about the same amount.
Secure the winnings
Monday’s trade, however, was not much to cheer for. According to CNBC, many investors have used the day to secure gains. How to close the key indices:
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- The S&P 500 fell 0.45 percent.
- The Dow Jones fell 0.89 percent.
- Nasdaq fell 0.06 percent.
The month started with the presidential election on November 4. Despite the uncertainty in the first few days, the stock indices rose solidly. Ahead of the election, Donald Trump warned that the stock market would collapse if he was not re-elected in six different Twitter messages, writes CNN.
The Dow Jones index consists of 30 major US companies listed on Wall Street. It consists of companies such as Microsoft, Apple, Disney, Boeing, McDonald’s. Vaccine developer Pfizer is also listed on the Dow Jones, and has contributed to the strong rise.
Cyclical stocks have had a particularly good month. The energy sector has risen 29 percent. The aircraft manufacturer Boeing has risen 47.6 percent, while American Express is up 31.6 percent in November.
“Vulnerable to some setbacks”
It is especially tourism shares in cruise and aviation that have been lifted by the vaccine news. These stocks struggled during Monday’s trading. Carnival, Norwegian Cruise Line, American Airlines, Delta fell between 1.8 and 6 percent.
– The length and strength of the current rally suggests that the market may be vulnerable to some setbacks at these levels, writes chief strategist John Stoltzfus in Oppenheimer Asset Management in an analysis reproduced by CNBC. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For additional terms look here.
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