November Gains Boost S&P 500

The Thanksgiving abbreviated Trading week saw gains across the domestic and global markets. The additional positive performance extended the monthly returns in those same four indices. Meanwhile, the loss in Emerging Markets last week extended the existing monthly losses. 

The 5- and three-quarter percent gain for the S&P 500 was especially noteworthy because it stands as the both the highest monthly return this year, but also the highest monthly gain since the nearly nine percent addition in November of 2023. 

The S&P 500 Sectors closed mostly higher with Energy being the notable exception. Crude Oil fell 4.5% last week while Natural Gas rose two and a third percent. 

Treasuries saw the longer end of the yield curve drop off last week with as much as 25 basis points of yield being shed in the intermediate to longer term durations. This had the benefit of stimulating the overall bond market. The Bloomberg Barclays Aggregate Bond index added nearly 1.5% last week, effectively doubled the YTD gain. 

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The S&P 500® Index is a capitalization index of 500 stock-designed to measure performance of the broad domestic economy through changes in the aggregate market value of stock representing all major industries. https://us.spindices.com/indices/equity/sp-500 The Dow Jones Industrial Average® (The Dow®), is a price-weighted measure of 30 U.S. blue-chip companies. The index covers all industries except transportation and utilities. https://us.spindices.com/indices/equity/dow-jones-industrial-average The NASDAQ Composite Index measures all NASDAQ domestic and international based common type stocks listed on The NASDAQ Stock Market. Today the NASDAQ Composite includes over 2,500 companies, more than most other stock market indexes. Because it is so broad-based, the Composite is one of the most widely followed and quoted major market indexes. https://indexes.nasdaqomx.com/Index/Overview/COMP The MSCI World Index, which is part of The Modern Index Strategy, is a broad global equity benchmark that represents large and mid-cap equity performance across 23 developed markets countries. It covers approximately 85% of the free float-adjusted market capitalization in each country and MSCI World benchmark does not offer exposure to emerging markets. The MSCI Emerging Markets (EM) Index is designed to represent the performance of large- and mid-cap securities in 24 Emerging Markets countries of the Americas, Europe, the Middle East, Africa and Asia. As of December 2017, it had more than 830 constituents and covered approximately 85% of the free float-adjusted market capitalization in each country. https://www.msci.com/ The S&P GSCI Crude Oil index provides investors with a reliable and publicly available benchmark for investment performance in the crude oil market. https://us.spindices.com/indices Companies in the S&P 500 Sector Indices are classified based on the Global Industry Classification Standard (GICS®). https://us.spindices.com/indices