In November, reports of a new COVID-19 variant roiled markets
as a wave of late selling erase the month's earlier gains.
The Dow Industrials took the hardest hit, dropping nearly 4 percent.
The S&P 500 Index lost less than 1 percent, while the Nasdaq
Composite rose 0.25 percent. The month started strongly,
helped by positive corporate earnings
surprises, optimistic, forward guidance, and solid
economic data.
But investors were blindsided by news
over Thanksgiving Day of the emergence of a new strain
of COVID-19, which led to concerns
about economic and social restrictions.
Stocks rallied as traders returned
to work the following Monday, but could not hold those gains
as the month came to a close.
In the coming weeks, markets will be sorting out
news from Washington,
updates on COVID variant Omicron, and economic reports.
On the economic front, the release
of November retail sales may give a glimpse
into the post-Thanksgiving start to the holiday shopping season.
The report is due on December 15th.
Another anticipated report will be the Consumer Price
Index, which will give an update on inflation.
It's due on December 10th.
If inflation continues to run hot,
it may test investor confidence.
December 26th is National Candy Cane Day.
Who knew? Sweet, sparkling, and full of cheer,
candy canes can quickly go from being
a decoration to a snack.
Candy sticks of various flavors have existed for a long time,
but the cane shape dates back to circa 1670,
when it was designed to keep children
quiet during holiday services.
German immigrants brought them to America in 1847.
However candy canes are consumed in your household,
don't feel bad about breaking them when you eat them;
they're not supposed to stay in "mint" condition.