A rally on the last trading day of November capped off a month of relief for the market in the form of easing inflation and optimism surrounding a potential slowing pace of U.S. rate hikes. The S&P 500® posted its second consecutive month of gains, with a total return of 6%. The S&P MidCap 400® and S&P SmallCap 600® were up 6% and 4%, respectively.
All S&P 500 sectors finished higher with Materials in the lead and every reported U.S. equity factor index also rose, led by High Beta.
Performance among commodities was mixed, with gains in Industrial and Precious Metals and declines among Livestock, Agriculture, and particularly Energy.