Wall Street will likely notch its strongest November gains since 1928 as vaccine breakthroughs, Fed support and the incoming Biden administration continue to boost risk appetite in stock markets around the world.
The CBOE Volatility Index (VIX), Wall Street’s preferred fear gauge, briefly dipped below 20 for the first time since late February.
Stocks rose across the globe on Friday to close at a fresh high and remained on track for their strongest monthly performance on record but the Nasdaq outperformed on Wall Street and Treasury yields fell, indicating lingering concerns over rising coronavirus cases globally. On Wall Street, the main indexes rose and the Nasdaq Composite hit a record high. The Nasdaq outperformance mirrors recent sessions when, despite rising stocks, the focus was on the economic impact of the pandemic.