Insights
Welcome to our monthly briefing, where we provide a comprehensive analysis of recent economic events and their implications for the financial markets. Highlights from November’s briefing:
- AI and AI-adjacent firms now account for roughly 40% of the market value of the S&P 500 index.
- The S&P 500 returned just a fraction of a percent for November due to market nervousness.
- Value stocks, both large and small cap, outperformed in November.
- Two sectors, health care and leisure and hospitality, accounted for all job growth in the U.S. through the first three quarters of 2025, while U.S. payrolls declined last month by the most since early 2023, according to payroll company ADP.
Read the November 2025 Monthly Briefing for insights from Chief Market Strategist Julie Biel, CFA
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This information is being provided by Kayne Anderson Rudnick Investment Management, LLC (“KAR”) for illustrative purposes only. Information in this article is not intended by KAR to be interpreted as investment advice, a recommendation or solicitation to purchase securities, or a recommendation of a particular course of action and has not been updated since the date listed on the correspondence, and KAR does not undertake to update the information presented. This information is based on KAR’s opinions at the time of publication of this material and are subject to change based on market activity. There is no guarantee that any forecasts made will come to pass. KAR makes no warranty as to the accuracy or reliability of the information contained herein. Past performance is no guarantee of future results.
