Dow Jones has best month since 1987
After reaching a major milestone last week, the Dow Jones Industrial Average has finished its best month in more than 30 years.
On Monday, the Dow Jones fell 271 points, but it rose 11.8 percent in November in its best performance in a month since January 1987, CNBC reports. The S&P 500 and the Nasdaq Composite also both had their best month since April, CNN reports.
Stocks climbed throughout November amid positive news about several COVID-19 vaccine candidates and after the election of President-elect Joe Biden. On Nov. 24, after Biden's transition was officially able to begin, the Dow Jones officially reached 30,000 for the first time in history, although by Monday, it closed at 29,638.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Amid rising COVID-19 cases and warnings from experts about a post-Thanksgiving surge, The Wall Street Journal notes the "market's retreat Monday shows the rally isn't immune to setbacks." And on Monday afternoon, Federal Reserve Chair Jerome Powell said, "As we have emphasized throughout the pandemic, the outlook for the economy is extraordinarily uncertain and will depend, in large part, on the success of efforts to keep the virus in check. The rise in new COVID-19 cases, both here and abroad, is concerning and could prove challenging for the next few months."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
The week's best photos
In Pictures Firing shells, burning ballots, and more
By Anahi Valenzuela, The Week US Published
-
Damian Barr shares his favourite books
The Week Recommends The writer and broadcaster picks works by Alice Walker, Elif Shafak and others
By The Week UK Published
-
The Great Mughals: a 'treasure trove' of an exhibition
The Week Recommends The V&A's new show is 'spell-binding'
By The Week UK Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published