For as much turmoil that is in the world in general and the U.S. specifically, one thing that has not been adversely affected is the Dow. Fresh off it’s all-time record of hitting 30,000 the week heading into Thanksgiving, things are shaping up for the entire month of November to be one that will be remembered for a very long time. Even though the Dow Jones Industrial Average opened a little lower on Monday than it closed Wednesday, this month is on track to be the best one since 1987.
Credit many things for the best run so far in 33 years, including the promising news about COVID-19 vaccines being available soon. As robust as the market is right now, experts suggest you strap yourself in for a bit of a roller coaster ride as the year comes to a close, and a new president potentially moves into the White House.
Boris Schlossberg, the managing director at BK Asset Management, told MarketWatch, “Equity investors remained optimistic about the prospect of a vaccine but the upside momentum has clearly slowed as sentiment has become skewed to the upside. Traders will likely start to take their cues from the economic data this week as prospects of any additional fiscal stimulus are delayed until next year.”
Bitcoin is having fantastic month, too, as it hit $18,600 Monday after rallying over the weekend. This is fresh off the cryptocurrency hitting a record high of $19,000 the day before Thanksgiving.