Copyright Investor's Business Daily
No single month beats November for S&P 500 stock market performance. And a handful of stocks are already taking off. Just a few days into November, five S&P 500 stocks — including health care plays Idexx Laboratories (IDXX) and Henry Schein (HSIC) — are up more than 12% in the month, says data from S&P Global Market Intelligence and MarketSurge. To put that into perspective, consider that the S&P 500 usually rises 10% in an entire year. And the S&P 500 itself is down 0.7% this month so far. These stocks highlight the fact that the stock market is at record highs but isn't putting a leash on further gains. "The S&P 500 has gone 129 trading sessions without testing its 50-day moving average — the longest streak since 2007 and the fifth-longest stretch since the index launched in 1961," said David Russell, global head of market strategy at TradeStation. How Good Is November For Stocks? November is the stock market's best friend. The S&P 500 does better this month than in any other, says "Stock Trader's Almanac." Specifically, the S&P 500 rose 1.9% on average in the month. And in November of 2020, it shot up nearly 11%. November also kicks off the best six months of the year for stocks, the almanac says. And some stocks aren't wasting any time showing what's possible in the month. Shares of Idexx, a maker of diagnostics for pets, is already up 14.4% this month. The company on Nov. 3 reported a quarterly profit that topped estimates by nearly 8%. The stock was solid even before this month arrived. It sports RS and EPS Ratings of 91. Analysts think profit will rise 16% this year. Medical Supplies Take Off Similarly, shares of medical supply maker Henry Schein are up nearly 14% already this month. The company on Nov. 4 topped quarterly profit targets by nearly 8%. That turbocharged the shares that only had a 53 RS Rating. The EPS Rating is just 67 as analysts see only single-digit earnings growth coming in 2025 and 2026. But November is still young — so stay tuned for more gains. Biggest S&P 500 Gains In November So Far Company Ticker Nov. gain so far Sector Idexx Laboratories IDXX 14.4% Health Care Henry Schein HSIC 13.9% Health Care Expeditors International of Washington EXPD 13.1% Industrials Incyte INCY 13.1% Health Care Kenvue KVUE 12.9% Consumer Staples Source: S&P Global Market Intelligence YOU MAY ALSO LIKE: Nvidia Slides As AI Giant Touts Blackwell Momentum, But Margin Worries Hit Stock Tesla Stock Keeps Falling. Last-Ditch Support Nears. Forget Nvidia. The Real Magnificent Seven Drama Is With Tesla. Find The Next Palantir Or Hot IPO Stock With This Tool
