Wall Street took a fall Monday but that did nothing to stop it from being the best November for the S&P 500 - ever!
The Dow fell 271 points on Monday - but the month wasn't shabby for the blue chip index either. It had the best monthly gain since 1987. The S&P 500 was down 16 points on the day. The Nasdaq dipped only 7 points after hitting an intra-day high.
And it's not just Wall Street scoring records:
Bitcoin hit an all-time high of $19,864... And global stocks surged a record 13 percent in November, adding $6.7 trillion to global stocks - or about $155 million a minute.
A market pullback after a stellar run-up should be expected, says Yieldstreet President Michael Weisz.
"I believe people are taking off some of their big gains. I mean, if you're looking at your portfolio, you're looking at your 401k, you're going to see that in November you have these incredible rallies. And at the end of the month, as we go into the end of the year, you're going to see some people take those gains. And I think that's really where we're going to see a little bit of a pullback. I don't feel that there's something too significant here. We're not seeing anything really sharp in one direction or another. So I don't think it's anything too much to worry about here."
Moderna was a market standout. The stock hit a lifetime high. The company said it will apply for emergency authorization for its COVID-19 vaccine in the U.S. and in Europe. It posted full results from late-stage clinical trials which showed its vaccine was 94.1 percent effective.
There was a record-setting corporate deal for investors to consider. Business information company S&P Global is buying IHS Markit in the biggest deal of the year. The price tag: $44 billion. Shares of S&P Global rose, which is rare for an acquirer's stock. IHS hit an all-time high.
Cyber Monday is set to be the biggest online shopping day in U.S. history. Retailers are hoping to make up sales lost from a somber Black Friday, which saw total in-store traffic plunge 52 percent compared to last year, according to industry sources. Looking at some retail stocks: Macy's was down nearly 6 percent. Amazon was down too.