The Dow Jones, about to close its best month in more than three decades
The Dow Jones is unstoppable: yesterday it exceeded 30,000 points for the first time in history after closing with a rise of 1.54%. But this isn't the only record that the Wall Street index could beat in 2020, marked by the global Covid-19 pandemic. The Dow Jones is about to close its best month since 1987! To date, it has accumulated a revaluation of 13.38% in November, a rise that it hasn't exceeded since January, 33 years ago.
Source: Admiral Markets MetaTrader 5. DJI30 CFD Daily Chart. Data range: from May 16, 2016, to November 25, 2020. Prepared on November 25, 2020, at 11 a.m. CET. Keep in mind that past returns do not guarantee future returns.
It will be necessary to see how it behaves in the next sessions that remain, taking into account that tomorrow Wall Street will remain closed for the celebration of Thanksgiving and that on Friday it will close a few hours earlier than usual.
It seems that investors are slowly regaining confidence after the president of the United States, Donald Trump, agreed to facilitate the transition to his successor Joe Biden. Likewise, it seems that the market has enthusiastically received the news that Janet Yellen, former president of the Federal Reserve, will be the new Secretary of the Treasury and, therefore, the one in charge of reactivating the economy in 2021, while the long-awaited vaccine arrives.
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