Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Comic: Stimulus Hopes Boost S&P 500, Nasdaq To Best Month In Years

Published 11/28/2020, 02:22 PM
Updated 11/28/2020, 02:25 PM

By Jesse Cohen

Investing.com - Stocks on Wall Street ended in positive territory on Friday, with the S&P 500 and Nasdaq closing at new record highs amid ongoing optimism over Covid-19 vaccine progress.

The S&P gained 0.3% to end the day at 3,638, notching an all-time closing high. The Nasdaq Composite also ended at a record high, rising 0.9% to 12,205.

Meanwhile, the Dow Jones Industrial Average rose 37 points, or 0.1%, to settle at 29,910. Earlier in the week, the Dow jumped to an all-time high, breaking above 30,000 for the first time ever.

For the week, the Dow and S&P 500 jumped 2.2% and 2.3%, respectively, while the tech-heavy Nasdaq scored a gain of 3% over that time frame.

Friday’s gains added to the market’s surge this month. The Dow is on pace for its biggest monthly gain since January 1987, up 12.9% in November. The S&P 500 and Nasdaq are up 11.3% and 11.9%, respectively.

The small-cap Russell 2000 is on track for its best month ever, up about 20%.

The market’s rally to record highs comes amid indications that the Federal Reserve is likely to strengthen their QE program at the next FOMC meeting on December 16.

Traders have also cheered the prospects that former Fed Chair Janet Yellen, who has been selected by Joe Biden for Treasury secretary, will deliver more economic stimulus.

Investors will be watching fresh Covid-19 vaccine headlines as well as developments surrounding the pandemic in the week ahead, amid worries the record surge in cases will lead to further restrictions.

Markets will also be tested by a flurry of key U.S. economic data in the coming week, including Tuesday’s ISM manufacturing PMI and Friday’s November employment report.

In earnings, there are just a few notable companies reporting their latest financial results as the third quarter earnings season winds down, including Zoom (NASDAQ:ZM) and Salesforce (NYSE:CRM).

Latest comments

entire USA economy is in negative... Virus is real and Vaccine is fake... do not drag your sell away from the reality... Biden is not a good president for USA nor trump is.. the best is what we need is J. Bush and Trump both together running USA... or else CHINA will become world power.
Biden hahahaha tough time ahead for USA.. CHINA to lead the world and the power both.. Biden can't control world politics..
voting fraud like in a third world country and a pandemic definitely not a good combination this can explode to something America has not seen since the last Civil War careful playing with fire as politicians do
Voting fraud to the extent that could have changed the election outcome, seriously?
Oh karen... go drink a glass a wine
it's probably bullish that those cases all got laughed out of court then
voting fraud like in a third world country and a pandemic definitely not a good combination this can explode to something America has not seen since the last Civil War careful playing with fire as politicians do
The House will flip in 2022 leaving Pants Sc h i tter Biden with a worthless presidency just like his entire life.. America has already turned red, but the Dems cheated hard to steal this election. House seats already started flipping this year in California.. the writing's on the wall.
Be careful what you say. Trump (supporters) can't handle the truth
this is the kind of intelligent discourse savvy investors really value
get rid of do nothing McConnell
I think we are heading into the last market surged before the period we called, The Great Collapse and the Fall of the Dollar....
 Dalio Dalio Dalio.. You should start a new religion making Dalio your god. That'd be cool.
The dollar is voilital at present jist like everything.weakness is there as long as virus not control but after contained voitility stops be strong again.lol
No biggie. Can't wait if it does. I'll definitely be a buyer
pure propaganda.nice to see that others are starting to see this too.
America happy, the world happy. Joke.
can someone please remind me how printing money to inflate assets actually helps poor people who don't own assets or the businesses on main Street that aren't listed on the NASDAQ?
"There is no such thing as a free lunch" - Milton Friedman
Mean while companies are taking on huge debts and laying off people. Most will fill bankruptcy. We will ******the dollar and life is so sunny. What a fairtale article. Joke
The next generstion will pay! Who cares?! Joke
surely, the rich will pay their fare share.🤔
usually the poor pay
Dday94785@gail.com
I AGREE
does anyone know where Ludwig von Mises is buried?I have a feeling we can hook up an electric motor to his coffin and generate enough green energy to light up the whole world right now.
Modern world went far away from his economic model, perhaps far beyond possible point of return. Individual choice means very little now and individual freedom got reduced to lip service.
modern world could be back to health, if the taxation is changed a bit and buyoing of bad debts of reckless companies by central banks are not permitted.
 Good like with this. However, keep in mind, central banks firstly buy government debt and government debt already exceeded level when it could be paid back.
does anyone know where Ludwig von Mises is buried?I have a feeling we can hook up an electric motor to his coffin and generate enough green energy to light up the whole world right now.
Yellen will not deliver anything independently. She is a “yes” person that will obey orders from higher powers. That’s why she was picked up by Obama and now by biden.
Shes not a one man band. There’s 12 members of the FOMC.
and the FOMC is one gang
And what did Trump do with "no" persons? He fired them and had them replaced. That's how politics works. Wake up!
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.