Stock Market Today: Wall Street Closes out Its Best Month in More Than a Year

Stocks closed mostly higher Thursday as the market ended November with its biggest monthly gain in more than a year.

The S&P 500 rose 0.4 percent after drifting between small gains and losses. The benchmark index rose 8.9 percent in November, its biggest monthly gain since July 2022.

The Dow Jones Industrial Average jumped 1.5 percent, while the Nasdaq composite slipped 0.2 percent. Both indexes also posted solid gains for the month, finishing with gains of 8.8 percent and 10.7 percent, respectively.

The market marched steadily higher for much of November as investors grew hopeful that the Federal Reserve is finally done raising interest rates, which fight inflation by slowing the economy. Those hopes got more support with a report that the Fed’s preferred measure of inflation cooled last month.

November’s rally was also driven largely by the technology sector, where several companies with high values tend to disproportionately impact the market. Microsoft gained 12.1 percent for the month, while Nvidia rose 14.7 percent. Also, Treasury yields have generally been falling and easing pressure on stocks. High yields tend to make expensive stocks look less attractive to investors.

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