The stock market ended November on a low note, with the Dow Jones index dropping roughly 270 points by the ring of the closing bell. Still, the total month saw another substantial increase in market gains, continuing a solid trend of growth heading into the end of the year. The S&P 500 has been a key driver in this economic rebound, and data across the entire year shows how it’s been more than just tech companies leading the charge.
In data collected by FactSet, November had 464 stocks in the S&P 500 that ended positively for the month. That’s the second highest for the year, right behind April’s recovery of 478 stocks. After a relatively slow September and October, economists are optimistic that the trend of growth will continue into December.
The Wall Street Journal showed how a number of market indicators are pointing to a widening rally to end the year. Large technology stocks are only continuing their dominant performances, and experts are hoping they’ll drive the success of other important industries. Despite COVID-19 cases still surging across the country, these signs of a recovery coupled with the imminent arrival of a vaccine has investors bullish heading into 2021.