Stock Market Ends Winning Week and Month With Trump's Postelection Rally

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Finance News

STOCK MARKET,TRUMP,POSTELECTION RALLY

The Dow added 1% this week, leading a strong month of gains that are set to be the best in over a year. However, gold and silver prices faced their biggest monthly declines, with gold dropping more than 2% and silver more than 4% in November.

Those moves come as traders look to the end of a winning week and month. November trading largely centered on the postelection rally seen on the back of President-elect Donald Trump's victory.The Dow has added 1% week to date, bringing its gain for November above 7%. That's the best month for the Dow since November 2023. The S&P 500 and Nasdaq Composite have advanced 0,5% and 0.4%, respectively, on the week. Both are slated to end 2024's penultimate month higher by more than 5%.

The stock market was dark on Thursday and closes at 1 p.m. ET on Friday in observance of the Thanksgiving holiday. There are no economic data releases or corporate earnings reports of note expected on Friday. Trading is expected to be light.Gold and silver prices are on track to see their biggest monthly declines this year.

Gold has slid more than 2% in November. That would mark its worst month since September 2023, when the metal fell more than 5%. Silver has dropped more than 4% this month. If that holds, it would be silver's largest monthly loss since December 2023, when it tumbled more than 6%.U.S. semiconductor equipment makers gain as Biden administration considers new China chip measuresthat cited sources familiar with the matter. However, Bloomberg reported that the barriers under consideration wouldn't be as strict as some previously expected proposals.

 

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