The New York Stock Exchange ended the month of November lower on Monday, catching its breath after record-breaking sessions, which allowed the flagship Dow Jones index to post its best month since 1987.
According to final results at the close, the Dow Jones, which for the first time exceeded 30,000 points on Tuesday, lost 0.91% to 29,638.64 points. But it has garnered nearly 12% increase in November alone.
The high-tech Nasdaq on Monday yielded 0.06% to 12,198.74 points and the S&P 500 fell 0.46% to 3,621.68 points.
Over the month, the Nasdaq also posted gains of almost 12%, and the S&P of 10.8%.
“November lived up to its reputation as ushering in a traditional two-month season of optimism in the markets” at the end of the year, said Sam Stovall of CFRA Research.
“Today was the last session in a November that saw stocks soar,” Schwab analysts commented, adding that “the recent hikes were driven largely by optimism around vaccines.”
But on Monday, the clues stalled ignoring the entire market of auspicious new information from Moderna on its Covid-19 vaccine.
The American biotech has announced that it is filing applications for conditional authorizations for its vaccine against Covid-19 in the United States and Europe, after complete results confirmed a high efficacy estimated at 94.1%.
If the title of the start-up jumped 20.24% to 152.74 dollars for a title floated on the stock exchange two years ago at 23 dollars, this has hardly caused any contagion of optimism in other sectors of the S&P 500.
Apart from health and information technology, all sectors of the S&P finished in the red.
The energy sector closed sharply down (-5.37%) while OPEC and its ten allies, united within OPEC +, have decided to postpone their discussions around their agreement to reduce production and to resume their virtual summit on Tuesday.
The designer of electric and hydrogen trucks Nikola plunged 26.92% after announcing that after a new agreement with General Motors, the Detroit automaker would ultimately not take a stake in its capital.
The market also digested the $ 44 billion merger-acquisition transaction between the American company S&P Global, which manages the famous S&P 500 and Dow Jones stock market indices, and the IHS Markit group (+ 7.43%), known to publish indices of economic activities very closely followed by the markets.
In the bond market, the rate on 10-year US Treasuries edged up 0.8438% from 0.8373%. The US central bank (Fed) announced on Monday to extend until March 31, 2021, corporate credit facilities put in place in March to cushion the economic consequences caused by the coronavirus pandemic.