EDITOR'S NOTE
The market did something it had rarely done in November to close out the month: decline.
The Dow Jones Industrial Average fell more than 200 points on the final trading day of November. The S&P 500 and Nasdaq dropped 0.5% and 0.1%, respectively. For the Dow and S&P 500, it marked just the eighth losing session in the month and the seventh for the Nasdaq.
Despite those losses, the major averages were able to finish November with sharp monthly gains. 
The Dow surged 11.8% in November, its biggest one-month gain since January 1987, when it rallied more than 13%. The S&P 500 and Nasdaq climbed 10.8% and 11.8%, respectively, over that time period to notch their biggest monthly advances since April. The Russell 2000, which tracks small-cap stocks, had its best month ever, up 18.3%.
November’s rally came as expectations of a strong economic rebound increased amid a slew of positive news on potential coronavirus vaccines. On Monday, Moderna said that new trial data showed its Covid-19 vaccine candidate was more than 94% effective
"The length and strength of the current rally suggests to us that the market could be vulnerable to some pullback at these levels," wrote John Stoltzfus, chief investment strategist at Oppenheimer Asset Management. "That said, the bull market that has emerged from the lows on March 23rd of this year has shown similarities to its predecessor ... in having a predilection to climb walls of worry aided and abetted by monetary policy and secular trends deeply embedded in technology and globalization."
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