S&P 500 recovers in November with a dramatic Black Friday rebound
The S&P 500 closed November with a modest gain of 0.1%, recovering from a mid-month slump. Just a week earlier, the index had fallen by nearly 5% as investor confidence wavered. A late-month rebound, fuelled by shifting economic expectations, pushed the benchmark into positive territory by Black Friday.
Early November saw equities under pressure after a slowdown in the artificial intelligence sector and fading hopes for interest rate cuts. Sentiment worsened mid-month, dragging the S&P 500 down by almost 5% from its opening levels. However, the index staged a dramatic turnaround, recording its largest-ever November swing—a 4.5 percentage point jump from the 20th of the month to Black Friday.
The S&P 500’s November performance reflects a volatile month, ending just above break-even. The late rally was driven by expectations of monetary easing and improved economic outlooks. While some sectors thrived, others faced steep declines, highlighting uneven market conditions.