Your Monday Blip 11/30/20

Your Monday Blip 11/30/20

Positive vaccine news from Moderna failed to boost stocks as the Dow closed the day down 271 at 29,639 on heavier trading volume. For the month of November the Dow turned in its best performance in 33 years as optimism over a vaccine and possible stimulus 2.0 package from Uncle Sam brought investors out in force. Leading sectors for the month were banks, energy and material sectors. IBD and BTS continue to list markets in rally mode.
Over the Thanksgiving Day holiday shoppers went online to purchase holiday gifts and score Black Friday deals rather than enter stores and mingle with other shoppers. The number of people entering stores this year dropped by 48% compared to last year but online shopping jumped 22% according to Adobe Analytics. Black Friday online sales hit $9 billion and today, which is Cyber Monday, is expected to exceed that score.
Air travel over the holiday rose to the highest level since mid-March but was still well below Thanksgiving travel volumes last year by about 60%. 1.2 million people were screened on Sunday which is below the 2.9 million TSA has screened a year earlier.
The Scout Christmas tree lot went well. Setup on Friday was clean and sales were brisk. The scouts were happy to be outdoors and active again. We ran out of bigger trees and had to order more from the growers.