November sees record-breaking gains in stocks for 2023: Nasdaq Dominates

<p>It was the Dow's turn today thanks largely to Salesforce (CRM) whose shares surged 8.87% on the day. UnitedHealth rose 3.37%. Boeing rose 3.23% and American Express rose nearly 1.97% propelling the Dow to a gain of 520.54 points or 1.47% – its best days since November 2.. </p><p>The broader S&amp;P and NASDAQ index were not so fortunate, but they had better months.</p><p>Looking at the final numbers for the day:</p><ul><li>Dow industrial average rose 520.47 points or 1.47% at 35950.88</li><li>S&amp;P index rose 17.19 points or 0.38% at 4567.76</li><li>NASDAQ index fell -32.28 points or -0.23% at 14226.21</li></ul><p>The smaller cap Russell 2000 rose 5.21 points or 0.29% at 1809.02.</p><p>It was a month which saw stellar gains for the broader indices. Looking at the monthly gains:</p><ul><li>Dow industrial average rose 8.77%. That's the largest gain since October 2022 when the index rose 13.95%.</li><li>S&amp;P index rose 8.92% which was its largest gain since July 2022 when the index rose 9.11%..</li><li>NASDAQ index outpaced both those indices with a gain of 10.70%. That was its largest gain since July 2022 (the gain from January 2023 was just below at 10.68%).</li></ul><p>The Russell 2000 rose 8.827% for the month of November. That was its largest gain since January</p><p>For the trading year with one month to go:</p><ul><li>Dow industrial average is up 8.46%</li><li>S&amp;P index is up 18.97%</li><li>NASDAQ index is up 35.92%</li><li>Russell 2000 is lagging with a gain of 2.712%</li></ul><p>Looking at the Dow stocks for the month:</p><ul><li>Salesforce led the way with a gain of 24.63%. Its shares are up 88.78% this year.</li><li>Boeing rose 23.43% this month which accounts for all its gains for the year. For the year the shares of Boeing are up 21.06%.</li><li>Intel shares rose 22.44%. For the trading year it's shares are up 69.09%. Intel is a second-biggest Dow gainer in 2023</li></ul><p>The biggest Dow losers this month were:</p><ul><li>Cisco which fell -7.56% after reporting disappointing earnings.</li><li>Walgreens boots-5.88% and is down -46.9% for the year – the worst Dow performer in 2023</li><li>Walmart the large retailer fell -4.85%</li><li>Chevron fell -1.56% and is down -20.07% in 2023</li></ul><p>Looking at some of the other big gainers this month:</p><ul><li>Shopify rose 54.31% and is up 109.80% year-to-date</li><li>Palantir rose 34.86% in November and is up 210.90% year-to-date</li><li>Crowdstrike rose 33.87% and is up 124.76% for the year</li><li>Uber rose 29.85%</li><li>Snowflake rose 28.93%</li><li>Doordash rose 25.18%</li></ul><p>Some losers this month included:</p><ul><li>Raytheon -36.14%</li><li>Chewy, -10.29%</li><li>Alibaba -9.27%</li><li>Schlumberger -6.67%</li><li>Exxon Mobile -6.46%</li></ul><p>How did the Magnificent 7 do this month, and how are they doing this year?</p><ul><li>Tesla, +18.91% for November. Shares are up 94.67% this year</li><li>Nvidia, +14.46% for November. Shares are up 220.04% this year</li><li>Microsoft, +11.76% for November. Shares are up 57.92% this year</li><li>Apple, plus a 10.92% for November. Shares are up 46.16% for the year</li><li>Amazon, +9.78% for November. Shares are up 73.87% this year</li><li>Meta , +7.78% for November. Shares are up 171.85% this year</li><li>Alphabet, +6.28% for November. Shares are up 50.12% for the year</li></ul><p>What a month for stocks.</p>

This article was written by Greg Michalowski at www.forexlive.com.