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With just a couple of hours to go in the trading day, it has been a very good month for the market overall as well as most sectors. Not all sectors have had great months, though. The table below shows performance so far in November for the S&P 500 and all ten sectors as well as how this month stacks up versus other months for both the sectors that are up and down. The real star of the show this month has been Financials which have surged 13.39% for the sector’s best monthly return since October 2011! Behind Financials, Industrials rallied 8.98%, which was that sector’s best month since October 2015. On the downside, Utilities have been the S&P 500’s worst performing sector this month, falling 4.21%, which is that sector’s worst month since August. The only other sector currently in the red for the month is Consumer Staples (-3.21%). Given its typically stable nature, you have to go back more than two years to find a month where the sector performed worse than this month. Finally, for all the sector rotation that took place this month, it’s hard to believe that Technology is unchanged this month!
While it seems as though the market has done nothing but go up this month, it was pretty surprising to see that the S&P 500 was actually up more in a month as recently as March and for all but two sectors, November has not been the best month of 2016.