November was another green month for equities, with the S&P 500 up 2.8%, the Dow up 3.8%, and the Nasdaq up 2.2%. The Dow has closed green eight consecutive months, the longest streak since in 22 years. The S&P 500 is also up eight in a row, the longest since 2007. On a total return basis, the S&P 500 is up 13 months in a row--the longest monthly win streak in history. (LPL)
The Dow closed at another new all-time last Thursday, along the way closing above 24,000 for the first time ever. It took only 30 trading days to go from 23,000 to 24,000--the third fastest 1,000-point milestone ever. Additionally, this was a record fifth 1,000-point milestone this year, with two being the previous record.
The Institute for Supply Management's manufacturing index decreased to 58.2 in November. Fourteen out of 18 manufacturing industries reported growth in November, including paper products, machinery and transportation equipment.
The Commerce Department says that construction spending increased 1.4% to $1.24 trillion in November. Public construction projects jumped 3.9%. Private construction projects increased 0.6%.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.