For investors, it was a November to remember. The Dow Jones Industrial Average (DJIA), closed November with an 11.8% gain. This was the best November result for the Dow Jones since 1928 and the best single month for the index since January 1987. The Dow Jones also closed above the 30,000-point barrier for the first time ever on November 24th, closing this week at an all-time high of 30,218.

The S&P 500 rose by 10.7% in November and closed this week at an all-time high of 3,699.20.

The Nasdaq rose by 11.8% in November and also closed this week at an all-time high of 12,464.23. For 2020 year-to-date, the Nasdaq has risen nearly 39%.

Not to be outdone, the S&P TSX Composite posted a double-digit November (10.3%) of its own and is now in the black for 2020 YTD, up 2.68%.

There are a number of reasons for optimism that drove markets upward in November. The conclusion of the U.S. election clarified who will occupy the White House for the next 4 years. Also, several pharmaceutical companies announced their respective COVID-19 vaccine candidates had completed Phase 3 trials with strong efficacy rates.

This week, the United Kingdom became the first country to approve a COVID-19 vaccine that had been tested in a large clinical trial. The road has now been paved for the U.K. to begin a mass inoculation campaign. U.K. Health Secretary Matt Hancock expects the U.K. will receive its first shipment of 800,000 vaccines “within days” and stated that people will begin receiving shots shortly after the National Health Service receives the vaccines.


Weekly Update – By The Numbers

North America Friday Close Weekly Change Weekly % Change YTD % Change
Canada – S&P TSX Composite 17,521 124 0.71% 2.68%
USA – Dow Jones Industrial Average 30,218 308 1.03% 5.89%
USA – S&P 500 3,699 61 1.68% 14.48%
USA – NASDAQ 12,464 258 2.11% 38.91%
Gold Futures (USD) $1,842.10 $36.40 2.02% 21.19%
Crude Oil Futures (USD) $46.07 $0.36 0.79% -24.73%
CAD/USD Exchange Rate € 0.7773 € 0.0093 1.21% 0.95%
         
Europe / Asia Friday Close Weekly Change Weekly % Change YTD % Change
MSCI World Index 2,640 39 1.50% 11.96%
Switzerland – Euro Stoxx 50 3,539 11 0.31% -5.58%
England – FTSE 100 6,550 176 2.76% -13.31%
France – CAC 40 5,609 11 0.20% -6.17%
Germany – DAX Performance Index 13,299 -37 -0.28% 0.38%
Japan – Nikkei 225 26,751 106 0.40% 13.08%
China – Shanghai Composite Index 3,445 37 1.09% 12.95%
CAD/EURO Exchange Rate € 0.6399 -€ 0.0045 -0.70% -6.77%
         
Fixed Income Friday Close Weekly Change Weekly % Change YTD % Change
10-Year Bond Yield (in %) 0.9690 0.0910 10.36% -49.50%

 

Source: Yahoo! Finance, CNBC.com, Dynamic Funds, CBC.ca

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