November started out looking like a month not to remember, as the government shutdown continued, concerns mounted about the Federal Reserve backing away from interest rate reductions, technology stocks sank, and crypto prices cratered.
By mid-month asset price declines were mounting: US large company stocks were down by 4%; technology stocks had fallen by 9%; and Bitcoin had dropped by 23%.
However, the mood in the market became more positive as the month lengthened, perhaps helped by a holiday hiatus and the arrival of year-ahead forecasting season.
Wall Street research departments are delivering their best guesses for what might happen in the next twelve months. And many forecasters look for another year of double-digit returns for stocks in 2026.
By the time November drew to a close, many asset classes had posted modestly positive returns.
Here’s a snapshot of financial market performance for the month of November and Year-to-Date (YTD):
Source: Moore Financial Advisors & Morningstar