Market Attributes U.S. Equities November 2019 KEY HIGHLIGHTS • The S&P 500 ® was up 3.40% in November, bringing its YTD return to 25.30%. • The Dow Jones Industrial Average ® gained 3.72% for the month and rose 20.25% YTD. • The S&P MidCap 400 ® increased 2.80% for the month and was up 20.87% YTD. • The S&P SmallCap 600 ® returned 2.92% in November and 17.58% YTD. Exhibit 1: Index Returns INDEX 1-MONTH (%) 3-MONTH (%) YTD (%) 1-YEAR (%) S&P 500 3.40 7.33 25.30 13.80 Dow Jones Industrial Average 3.72 6.24 20.25 9.84 S&P MidCap 400 2.80 6.85 20.87 7.00 S&P SmallCap 600 2.92 8.14 17.58 3.17 Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes. Returns shown are price returns. MARKET SNAPSHOT It was a month of giving thanks (which went well with the U.S. Thanksgiving holiday; the U.S. significantly outperformed the global markets), as the November market continued where October’s two new closing highs left off, by posting 11 of its own (out of the 20 trading days). Meanwhile, no one dared impeach the market, although many still worried as to how long the closing highs (and bull market) could go on. For the month, the S&P 500 posted a broad 3.40% return, after October’s 2.04% gain and September’s 1.72% gain (August was down 1.81%). While market celebration was evident at the bar, as shown by the willingness of patrons to buy a round (on the company card, of course), and the verbiage was of a good year, with December known for its upside (up 72.5% of the time), the underlying tone still included nervousness and caution. On the horizon were more political events, as the impeachment proceeding continued; there has been little market impact to date, but as the process advances, the impact was expected via reallocation and investments potentially being sidelined. However, the key takeaway was that the S&P 500 was broadly up 25.30% YTD (27.63% with dividends), a tick (0.40%) off its closing high, with all 11 sectors positive—Energy was on the low side, with the only single-digit gain, up 1.72% (down 15.50% from the U.S. November 2016 election). As long as trade issues continue to progress (slowly, with short-term ups and downs) and no one starts a Register to receive our latest research, education, and commentary at go.spdji.com/SignUp. Contributor: Howard Silverblatt, Senior Index Analyst, Product Management, [email protected]S&P Dow Jones Indices’ Market Attributes ® series provides market commentary highlighting developments across various asset classes.
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Market Attributes: U.S. Equities November 2019 · Market Attributes U.S. Equities November 2019 KEY HIGHLIGHTS • The S&P 500® was up 3.40% in November, bringing its YTD return
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Market Attributes
U.S. Equities November 2019 KEY HIGHLIGHTS
• The S&P 500® was up 3.40% in November, bringing its YTD return to 25.30%.
• The Dow Jones Industrial Average® gained 3.72% for the month and rose 20.25% YTD.
• The S&P MidCap 400® increased 2.80% for the month and was up 20.87% YTD.
• The S&P SmallCap 600® returned 2.92% in November and 17.58% YTD.
Exhibit 1: Index Returns
INDEX 1-MONTH (%) 3-MONTH (%) YTD (%) 1-YEAR (%)
S&P 500 3.40 7.33 25.30 13.80
Dow Jones Industrial Average 3.72 6.24 20.25 9.84
S&P MidCap 400 2.80 6.85 20.87 7.00
S&P SmallCap 600 2.92 8.14 17.58 3.17
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes. Returns shown are price returns.
MARKET SNAPSHOT
It was a month of giving thanks (which went well with the U.S. Thanksgiving holiday; the U.S.
significantly outperformed the global markets), as the November market continued where October’s two
new closing highs left off, by posting 11 of its own (out of the 20 trading days). Meanwhile, no one
dared impeach the market, although many still worried as to how long the closing highs (and bull
market) could go on. For the month, the S&P 500 posted a broad 3.40% return, after October’s 2.04%
gain and September’s 1.72% gain (August was down 1.81%). While market celebration was evident at
the bar, as shown by the willingness of patrons to buy a round (on the company card, of course), and
the verbiage was of a good year, with December known for its upside (up 72.5% of the time), the
underlying tone still included nervousness and caution. On the horizon were more political events, as
the impeachment proceeding continued; there has been little market impact to date, but as the process
advances, the impact was expected via reallocation and investments potentially being sidelined.
However, the key takeaway was that the S&P 500 was broadly up 25.30% YTD (27.63% with
dividends), a tick (0.40%) off its closing high, with all 11 sectors positive—Energy was on the low side,
with the only single-digit gain, up 1.72% (down 15.50% from the U.S. November 2016 election). As
long as trade issues continue to progress (slowly, with short-term ups and downs) and no one starts a
Register to receive our latest research, education, and commentary at go.spdji.com/SignUp.
Contributor:
Howard Silverblatt, Senior Index Analyst, Product Management, [email protected]
S&P Dow Jones Indices’ Market Attributes® series provides market commentary highlighting developments across various asset classes.
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes. Returns shown are price returns.
Dow Jones Industrial Average 4.11 6.87 23.05 12.48 57.39 77.83 248.66
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes.
Exhibit 4: S&P Global BMI, Emerging, Sorted by November Performance
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes. Returns shown are price returns.
U.S. Equities November 2019
MARKET ATTRIBUTES 12
Exhibit 5: S&P Global BMI, Developed, Sorted by November Performance
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes. Returns shown are price returns.
S&P 600 Information Technology 35.88 28.87 35.93 39.31
S&P 600 Materials 25.45 22.76 17.87 20.22
S&P 600 Communication Services 41.43 284.00 -275.00 -137.50
S&P 600 Utilities 23.24 26.50 27.88 29.49
S&P 600 Real Estate 29.05 33.24 48.56 39.44
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes.
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes.
U.S. Equities November 2019
MARKET ATTRIBUTES 15
Exhibit 8: Breadth of Change (Issues with Monthly Price Changes as Described by Type)
S&P 500
TYPE NOVEMBER 2019 AVERAGE %
CHANGE 3-MONTH
AVERAGE % CHANGE
YTD AVERAGE %
CHANGE
Up 366 5.97 375 12.50 432 29.99
Down 139 -4.06 130 -6.13 68 -14.90
Up >= 10% 58 14.63 198 19.25 370 34.12
Down <= -10% 8 -18.11 24 -15.39 37 -24.09
Up >= 25% 3 30.89 37 32.44 237 43.03
Down <= -25% 2 -27.66 2 -26.38 17 -35.16
Up >= 50% 0 0.00 2 54.55 60 65.57
Down <= -50% 0 0.00 0 0.00 1 -59.60
S&P MIDCAP 400
TYPE NOVEMBER 2019 AVERAGE %
CHANGE 3-MONTH
AVERAGE % CHANGE
YTD AVERAGE %
CHANGE
Up 288 6.33 292 14.20 311 33.48
Down 111 -6.82 108 -9.75 89 -21.57
Up >= 10% 56 16.49 172 20.31 271 37.60
Down <= -10% 23 -19.26 41 -18.42 60 -29.64
Up >= 25% 7 30.54 38 35.88 175 48.72
Down <= -25% 6 -33.48 7 -32.55 30 -42.23
Up >= 50% 0 0.00 4 59.06 64 69.97
Down <= -50% 1 -55.22 1 -58.33 9 -58.58
S&P SMALLCAP 600
TYPE NOVEMBER 2019 AVERAGE %
CHANGE 3-MONTH
AVERAGE % CHANGE
YTD AVERAGE %
CHANGE
Up 383 8.74 445 18.99 403 38.18
Down 215 -7.65 155 -13.16 195 -25.84
Up >= 10% 118 19.23 283 27.05 338 44.47
Down <= -10% 58 -19.01 73 -22.94 146 -32.76
Up >= 25% 18 38.65 109 42.79 209 61.45
Down <= -25% 12 -34.66 23 -38.85 80 -45.71
Up >= 50% 2 71.35 25 71.47 104 87.39
Down <= -50% 3 -55.43 4 -64.16 26 -66.18
DOW JONES INDUSTRIAL AVERAGE
TYPE NOVEMBER 2019 AVERAGE %
CHANGE 3-MONTH
AVERAGE % CHANGE
YTD AVERAGE %
CHANGE
Up 24 4.54 21 11.42 25 24.11
Down 6 -2.67 9 -3.24 4 -8.88
Up >= 10% 2 13.71 10 18.82 20 28.36
Down <= -10% 0 0.00 1 -10.78 3 -11.81
Up >= 25% 0 0.00 2 26.61 12 37.04
Down <= -25% 0 0.00 0 0.00 0 0.00
Up >= 50% 0 0.00 0 0.00 1 69.42
Down <= -50% 0 0.00 0 0.00 0 0.00
Source: S&P Dow Jones Indices LLC. Data as of Nov. 29, 2019. Past performance is no guarantee of future results. Table is provided for illustrative purposes.
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