For today’s article, we have a market update with the latest issue of our biweekly Market Movers Newsletter! As expected, November was a whirlwind month. Many people were incredibly stressed over the U.S. presidential election. If you would like to hear our take on the presidential election, click here. Overall, the stocks definitely had their ups and downs related to politics, the recovering U.S. economy, stimulus, and of course, the global pandemic. We encourage our clients, as well as any investor, to stay up-to-date with what is going with the markets so that you can adjust your portfolio if needs and stay on top of where your finances are at. If would like to speak to our of our client care teams about what strategy might match your goals, we encourage you to reach out to by giving us a call at (800) 883-0524 or contacting us via email or our contact form. If you would simply like to sign up for notifications for our biweekly Market Movers Newsletter, send us an email at [email protected] or come back to visit our blog every two weeks. Now, let’s dive into what influenced the markets with our market update for the 1st part of November!
November 2, 2020
● The broader market is sharply higher on limited news
● The 8:45 central time October manufacturing PMI came in at 53.4, in line though slightly higher than the expected 53.3
● The October ISM manufacturing index came in at 59.3 topping expectations of 55.7
● September construction spending was 0.3%, lower than the 0.9% consensus expectations
November 3, 2020
● Stocks continued to advance on limited news
● The 9:00 September factory orders report showed an increase of 1.1, higher than the expectations of 0.6%
● Once the political uncertainties settle down, the globally low-interest-rate environment will likely dominate
November 4, 2020
● Markets are sharply higher despite uncertainties surrounding the inconclusive outcome of the U.S. presidential election, with no clear winner yet apparent
● Mortgage applications in the U.S. jumped 3.8% in the week ended October 30, following a 1.7% increase in the previous week, according to the Mortgage Bankers Association
● Private sector employment increased by 365,000 jobs from September to October according to the October ADP National Employment Report when 650,000 were expected
● The October Markit services PMI final will be released at 8:45 central time. Last month the report showed 56
November 5, 2020
● Stocks are sharply higher and are up for the fourth consecutive day despite uncertainties surrounding the inconclusive outcome of the U.S. presidential election
● Jobless claims in the week ended October 31 were 751,000 when 745,000 were expected
● Major central banks around the world are under pressure to add more accommodation
● Jerome Powell notes that no further monetary stimulus will be taken at the moment, emphasizing the importance of fiscal actions to avoid further significant downside risks
Powell notes that the path to economic recovery significantly depends on the course of the COVID spread
November 6, 2020
● Markets remained unchanged as investors sought clarity around the presidential and congressional election results
● Market sentiment was kept in check by better-than-expected U.S. unemployment data
●The Dow Jones Industrial Average traded 64 points lower, or 0.2%. The S&P 500 fell 0.1% along with the Nasdaq Composite
November 9, 2020
● S&P 500, Dow, and Russell 2000 shot up to record highs due to vaccine progress and ongoing pressure for central banks to add even more accommodation
● There are no major economic reports scheduled for today
November 10, 2020
● The broader market was mixed today, taking a breather from yesterday’s staggering rally
● The National Federation of Independent Business (NFIB) optimism index remained at 104.0 in October, which compares to the median expectation of 104.8
● The small business optimism index is compiled from a survey that is conducted each month by the National Federation of Independent Business of its members
●The 9:00 central time September Job Openings and Labor Turnover Survey (JOLTS) came in at 6.436 million, lower than the expected 6.508 million. The Labor Department’s JOLTS report tracks monthly changes in job openings and offers rates on hiring and quits
November 11, 2020
● The broader market continues to fluctuate, partly supported by optimism toward vaccine progress, plus ongoing pressure on central banks to add more accommodation
●Today’s gains are being led by the NASDAQ
●Mortgage applications in the U.S. fell 0.5 percent in the week ended November 6, which is the first decline in three weeks and after a 3.8 percent advance in the previous period, according to the Mortgage Bankers Association
November 12, 2020
● Tech stocks are pulling ahead driving the Nasdaq as the other two major indexes fall
● Jobless claims in the week ended November 11 were 709,000, better than the 737,000 expected
● The October consumer price index was unchanged when an increase of 0.2% was expected
●The consumer price index, excluding food and energy, remained unchanged, which compares to the anticipated 0.2% gain
November 13, 2020 (Mid-day)
● Reporting mid-day, U.S. stock index futures are higher with S&P 500 and Dow futures on track for a second week of gains. However, fading hopes for fiscal stimulus limited the advance
●The October producer price index was up 0.3% when an increase of 0.2% was expected and the producer price index, excluding food and energy, was up 0.1%, which compares to the anticipated 0.2% gain
●The November consumer sentiment index came in at 77.0, far below analyst estimates of 82
All in all, November was a busy month! If you would like to learn more about our array of market strategies, feel free to visit our forex, options, index futures, or commodities pages to learn more. If you would like more information or would prefer to speak to one of our associates directly, give us a call at (800) 883-0524. For more frequent FFR and market news, be sure to follow us on Instagram, Facebook, Twitter, and LinkedIn. Good luck out there in the markets, everyone!