“You Retire Once… I Help People Retire Everyday”
Connect With Us:
Have any questions?

Week in Review: Nov.20.2023 - Nov.24.2023

Get a free consultation today.
November 27, 2023

Market Recap


During the shortened, holiday trading week in the U.S., the S&P 500 index rose just over 1% last week, extending the market benchmark's winning streak to a 4th week. The S&P 500 ended the week at 4,559.34 and continues to be on track for its largest monthly gain this year if it can sustain the climb through the end of the month. All major stock indices rose during the week with the largest Canadian benchmark, TSX, dragged drawing in slightly negative performance for the week as tech shares weighed most heavily on the laggards.

In comparison to last year, investors had much more to be thankful for this year as it pertains to stocks returns. Furthermore, with the Thanksgiving holiday behind us it also marks the homestretch for the year and historically it has done well. Over the last 30 years, the average return of the S&P 500 in December has been roughly 1%, with the market logging a post-holiday gain roughly three-quarters of the time. The best was December 2010 with a rally of 6.5%, followed by 2003, 1999 and 1998, which saw post-Thanksgiving gains of more than 5%.

When the market rose between Thanksgiving and year-end, it went on to deliver a positive return the next year 77% of the time, with an average return the following year of 11%.  In other words, finishing the year on an up note has most often been part of a broader move that saw market gains continue.

This week is a pretty economic data light with new home sales released today while initial jobless claims, PCE numbers released Thursday and a read of ISM Manufacturing on Friday.

Join our mailing list for the latest news and information about insurance and investing.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.