Tuesday, December 1, 2020

Market Roundup for November 6, 2020

By on November 6, 2020

The U.S. stock market ended the day mixed, but recorded the best week since early April.

As the Electoral College vote count nears completion and with the much anticipated “Blue Wave” not materializing, investors are preparing their portfolios to realize profits and invest in sectors that may be better positioned for life after 2020.

The U.S. Department of Labor reported that the unemployment rate fell to 6.90% compared to 7.90% last month, a 12.66% drop, with 638,000 new jobs created. The U.S. economy has regained 55% of the jobs lost during the pandemic lockdowns, and the labor force participation rate rose to 61.7%. 

As we review the sectors, we note the following results:

  • Basic Materials has a year-to-date (YTD) return of 10.44%.
  • Consumer Cyclicals has a YTD return of 22.17%.
  • Consumer Defensive has a YTD return of 2.87%.
  • Energy has a YTD return of -50.75%.
  • Financial Services has a YTD return of -18.26%.
  • Healthcare has a YTD return of 7.87%.
  • Industrials has a YTD return of -0.26%.
  • Technology has a YTD return of 32.16%.
  • Utilities have a YTD return of -0.54%.

Wall Street Summary for November 6, 2020.

  • The Dow Jones Industrial Average closed at 28,323.00, down 66.78 points, or 0.24%.    
  • The Standard & Poor’s 500 closed at 3,509.49, down 0.96 points, or 0.03%.
  • The Nasdaq Composite Index closed at 11,890.93, up 4.30 points, or 0.11%.
  • The Birling Puerto Rico Stock Index closed at 1,757.53, up 60.76 points, or 3.58%.
  • The U.S. Treasury 10-year note closed at 0.83%.
  • The U.S. Treasury 2-year note closed at 0.16%.