Stock futures rose slightly in night trading on Sunday as the market is set to finish November with historically strong gains.
Futures were up by 64 points on the Dow Jones Industrial Average. S&P 500 futures rose 0.3% and Nasdaq 100 futures rose 0.5%.
Blue-chip Dow has gained 12.9% so far this month due to its best monthly performance momentum since January 1987, as promising vaccine development boosted confidence for a smooth economic reintegration. The S&P 500 and Nasdaq climbed 11.3% and 11.9% respectively in November, both on track to post their biggest monthly advance since April.
The cyclical sector, the most economically sensitive group, has led the market’s November rally in terms of positive vaccine news. Energy, the biggest loser of 2020, has jumped 33.8% this month, while financial, industrial and material have all gained at least 13% during the period.
Small caps have been in a tumult this month as investors have named the beat-down value. Russell 2000 has stalled 20.6% so far in November, on track for its best month ever.
Chief Investment Officer Chris Zaccarelli said, “This rally has been notable as a rotation from the value of development, as it continues to gain momentum despite the negative flow of Kovid cases across the country and the re-locking of various parts of the country . ” In the Independent Consultant Alliance.
A record-setting holiday week is coming to market that saw a 30-stock surge of 30,000 milestones for the first time. The benchmark has since been submerged below the threshold. The S&P 500 and Nasdaq both closed at fresh record highs on Friday.
Nevertheless, investors continue to monitor the coronovirus epidemic, which is America’s top infectious disease specialist, Dr. Anthony Fauci, who has killed more than 266,000 people, said on Sunday that the US was growing in a difficult phase of the epidemic in which sanctions and travel advice would be necessary.
Los Angeles County in California on Friday ordered a new stay as cases were growing in the country’s most populous counties. Meanwhile, New York City’s public schools will begin reopening in December.
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