A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City.

Spencer Platt | Getty Images

It was a big month for the Dow Jones Industrial Average, and it could signal Wall Street sees better things ahead for the economy heading into the new year.

The 30-stock average rose 11.8% in November, its biggest one-month gain since January 1987. Back then, the Dow jumped 13.8%.

However, this month’s gains were not led by high-flying growth stocks such as Apple or Microsoft. Instead, the Dow’s driving force came mainly from companies that would benefit from a strong economy, potentially signaling investors are betting on a big recovery from the coronavirus pandemic.

Originally published at CNBC

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