Markets were choppy in November as investors worked through a wave of mixed signals.
Volatility picked up throughout the month as economic data painted a mixed picture. While the labor market report was broadly better than expected, consumer sentiment showed further signs of softening amid geopolitical uncertainties. Despite the noise, markets held their ground as strong corporate earnings continued to provide support.
The CRSP US Small Cap Index led the way, gaining 1.45% as smaller companies benefit from improved market breadth. The Dow Jones Industrial Average and S&P 500 also advanced, with gains of 0.48% and 0.25% respectively. However, the Nasdaq 100 pulled back slightly, falling 1.57% as large-cap tech stocks took a breather following a strong stretch. Value outperformed growth as a style for the month, with other sectors stepping up to provide support beyond the usual AI-focused tech leaders.
International markets showed a similar divergence, with developed international stocks rising 0.97% and emerging markets declining 1.22%. Technology-heavy markets such as Korea and Taiwan reversed course lower, contributing to the underperformance for emerging countries, while developed markets with a more diversified economic balance fared better.
Bonds provided stability during the month, with aggregate US bonds gaining 0.62% as the 10-year Treasury yield dipped from 4.11% to 4.02%. While the Fed didn’t meet in November, expectations continued to build for a potential rate cut in December as policymakers monitor the evolving economic landscape.
As the year winds down, November showed us that market leadership can shift quickly. While the recent volatility may test patience in the short-term, the rotation into small-caps and value stocks suggests investors are looking beyond the usual suspects for opportunities. This underscores the importance of having a diversified approach that can work across different market environments. Maintaining discipline and sticking with a well-diversified strategy aligned to your goals can help you navigate both the quiet stretches and the volatile ones.
It appears this generations Martha Stewart is… Martha Stewart.
Martha Stewart rereleased her first book, Entertaining, more than four decades after it originally hit shelves in 1982.
Interest in the book surged after a series of documentaries left Gen Z hungry for a taste. Vintage copies were flying off the shelves, with online resale prices ranging up to $311.
The reissue comes printed on nicer paper and costs $50, up from the original $35 price tag. However, the content remains unchanged, including a dedication to Stewart’s now ex-husband and some terminology that reflects its 1980s origins.
Stewart said she thinks twenty-somethings will buy the new copies “because I’m cool. Not only can I cook, I hang out with Snoop Dogg and I have gone to jail. I have been through the wringer and come out alive.”
Somebody call The Bangles, it’s time to walk like an Egyptian.
After 32 years in the making and a $1 billion price tag, the Grand Egyptian Museum outside Cairo fully opened its doors.
The facility is being billed as the world’s largest museum dedicated to a single civilization, covering the equivalent of about 80 football fields. It took workers seven months to excavate and remove the sand just to prepare the site.
It houses around 100,000 artifacts, including the complete collection from King Tut’s tomb.
Other highlights include the world’s only hanging obelisk, standing 53 feet high, and an 83-ton statue of King Ramses II that dates back 3,200 years.
Egypt is banking on the museum to help boost tourism, with officials aiming to double the number of international visitors by 2032.
Broad Market Returns
| Asset Class | 1 Month | 3 Month | YTD | 1 Year |
| S&P 500 (VOO) | 0.22% | 6.26% | 17.73% | 14.98% |
| NASDAQ (QQQ) | -1.56% | 8.69% | 21.59% | 22.14% |
| Large Cap Growth (VUG) | -1.61% | 7.14% | 20.01% | 20.55% |
| Large Cap Value (VTV) | 2.54% | 4.49% | 14.37% | 7.08% |
| Small Cap Growth (VBK) | 0.11% | 3.90% | 9.05% | 1.38% |
| Small Cap Value (VBR) | 2.50% | 1.83% | 8.49% | -0.01% |
| Developed International (VEA) | 0.97% | 5.37% | 31.00% | 26.41% |
| Emerging Markets (VWO) | -1.22% | 5.92% | 24.42% | 23.14% |
| REITs (VNQ) | 2.42% | -0.03% | 5.61% | -3.24% |
| Aggregate Bonds (BND) | 0.60% | 2.32% | 7.41% | 5.60% |
| Corporate Bonds (VCIT) | 1.00% | 2.56% | 9.52% | 7.80% |
| High Yield Bonds (JNK) | 0.82% | 1.80% | 8.11% | 7.17% |
| Long Term Treasuries (VGLT) | 0.39% | 4.79% | 7.57% | 1.63% |
| International Bonds (BNDX) | -0.18% | 1.35% | 3.40% | 2.61% |
Market Health Indicator
The Market Health Indicator (MHI) measures market health on a scale of 0 – 100, analyzing various market segments such as economics, technicals, and volatility. Higher scores indicate healthier market conditions.
Fun Facts
- What’s your favorite color? December 18th is National Answer the Telephone Like Buddy the Elf Day.
- There’s an orchestra made up entirely of typewriters. Formed in 2004, the group is cleverly named Boston Typewriter Orchestra.
- The most covered song in history is “Yesterday” by The Beatles, with over 2,200 recorded versions.
- The National Peanut Board estimates it takes approximately 540 peanuts to make a 12-ounce jar of peanut butter.
– The Aspire Wealth Team
Weekly Wake-Up
