The US stock market has rebounded from its months-long rut.
Stocks finished out their best month of the year on Thursday, breaking a three-month streak of declines for all the major indexes. The benchmark S&P 500 index is now within striking distance of where it peaked mid-summer, before negative seasonal trends and fears that the Federal Reserve would continue to raise interest rates blighted markets.
The S&P 500 jumped 9% and the Nasdaq Composite climbed 10.7% in November, both notching their best one-month gains since July 2022. The Dow Jones Industrial Average rose 8.8% to log its best monthly jump since October 2022.
Global markets had a strong month, too. The MSCI All-Country World index rose 9% in November, its best monthly performance since April 2020.
Treasury yields that have declined from 16-year highs are one factor behind the quick recovery in stocks. Investors are betting — after a slew of data releases pointing to slower inflation — that the Fed is done raising rates and will nail a soft landing, or bring down inflation to its 2% target without triggering a recession.
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