The major averages close out the abbreviated week on a high note, but a down month for the Nasdaq Composite as the major averages fight back into month end. The Dow Jones Industrial Average rose 289 points, or 0.61%, finishing at 47,716.  The S&P 500 gained 36 points or 0.54% to settle at 6,849. The Nasdaq rose 150 points or 0.65% to 23,265.

It was an impressive week, with the Dow finishing up more than 3%. The S&P 500 increased almost 4% in the period, while the Nasdaq Composite jumped more than 4%.

The Nasdaq fell nearly 2% for November, ending a seven-month win streak. The S&P 500 and Dow were slightly higher, thanks to this week’s gains, posting their seventh consecutive winning month.

The 10-year Treasury rose 2 basis points to 4.02%, while the 30-year bond yield climbed 3 basis points to 4.67%. The 2-year note yield moved up more than 2 basis points to 3.50%. Investors are anticipating a quarter percentage point rate cut from the Fed in December would mark the central bank’s third in a row after its September and October meetings.

In the commodity space, oil was modestly higher, but still below $60 a barrel. Gold was up a percent while crypto currencies were quiet after a nice rebound this week.

On to December.

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