Stocks Ended Lower Monday, Gained for November

U.S. stocks ended lower on Monday as investors gave back some of last week’s gains. However, the three major indices capped off November with major monthly gains. The Dow Jones Industrial Average fell 271.73 points, or 0.91%, to 29,638.64. The S&P 500 was off 16.72 points, or 0.46%, to 3,621.63. The Nasdaq Composite declined 7.11 points, or 0.06%, to 12,198.74. For the month, The Dow posted 11.9% gain, the S&P 500 rose 10.7%, and the Nasdaq advanced 11.9%.

Oil futures settled a bit lower Monday as the Organization of the Petroleum Exporting Countries and its allies continued to debate the fate of existing output curbs in the face of a renewed rise in COVID-19 cases in the U.S. and Europe. West Texas Intermediate crude for January delivery edged down by 19 cents or 0.4%, to settle at $45.34 a barrel and saw a 26.7% monthly advance in November. The front month January Brent crude lost 59 cents, or 1.2%, at $47.59 a barrel and saw a 27% November rise.

Zoom Video Communications Inc. reported another blockbuster quarter Monday, as the company’s videoconferencing software continued to be a lifeline for users during the COVID-19 pandemic. Zoom said that revenue jumped more than 350% for a second consecutive quarter. Revenue catapulted 367% to $777.2 million from $166.6 million a year ago.

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