Today there are only two stock exchanges in the United States, the New York Stock Exchange (NYSE) and the NASDAQ. The NYSE Amex LLC is owned by the NYSE. This wasn’t the case 225 years ago or 100 years. There have been dozens of exchanges that have existed in the United States over the past 200 years.
25 years ago: November 1995
S&P 500: 605.37 (vs. 3550.50 in 11/2020)
10-year U.S. Government Bond Yield: 5.76% (vs. 0.96% in 11/2020)
Gold: $387.80 (vs. $1940.80 in 11/2020)
Oil: $18.255 (vs. $40.84 in 11/2020)
GBP/USD: 1.5315 (vs. 1.3223 in 11/2020)
US GDP: $7,683 billion (vs. $21,157 billion in 09/2020)
US Population: 266 million (vs. 331 million in 2020)
11/04/1995: Israeli prime minister Yitzhak Rabin is assassinated by an extremist Israeli.
11/05/1995: Andr Dallaire attempts to assassinate Prime Minister Jean Chrtien of Canada. He is thwarted when the Prime Minister's wife locks the door.
11/06/1995: First Interstate agrees to a $9.8 billion merger with First Bank, spurning a Wells Fargo hostile bid. The Treasury postpones a key sale of notes, citing Congressional inaction on lifting the debt limit. Art Modell announces that he signed a deal that would relocate the Cleveland Browns to Baltimore to become the Baltimore Ravens, the first time the city had a football team since1983 when they were the Baltimore Colts.
11/14/1995: The U.S. shuts down many government functions in a tense budget standoff, after Clinton vetoes debt and spending bills. A budget standoff between Democrats and Republicans in the U.S. Congress forces the federal government to temporarily close national parks and museums and to run most government offices with skeleton staffs.
11/19/1995: The White House and GOP agree to end a week-long government shutdown.
11/21/1995: The Dow Jones industrials close above 5000 for the first time -- just nine months after crossing 4000. The Dayton Peace Agreement is initialed at the Wright-Patterson Air Force Base, near Dayton, Ohio, ending three and a half years of war in Bosnia and Herzegovina. The agreement is formally ratified in Paris, on December 14 that same year.
11/22/1995: Toy Story is released as the first feature-length film created completely using computer-generated imagery.
11/30/1995: U.S. President Bill Clinton visits Northern Ireland and speaks in favor of the "Northern Ireland peace process" to a huge rally at Belfast City Hall. He calls terrorists "yesterday's men".
50 years ago: November 1970
S&P 500: 87.20 (vs. 3550.50 in 11/2020)
10-year U.S. Government Bond Yield: 6.49% (vs. 0.96% in 11/2020)
Gold: $37.54 (vs. $1940.80 in 11/2020)
Oil: $3.21 (vs. $40.84 in 11/2020)
GBP/USD: 2.3899 (vs. 1.3223 in 11/2020)
US GDP: $1,086 billion (vs. $21,157 billion in 09/2020)
US Population: 266 million (vs. 331 million in 2020)
11/01/1970: Club Cinq-Sept fire in Saint-Laurent-du-Pont, France kills 146 young people.
11/04/1970: Salvador Allende takes office as President of Chile, the first Marxist to become president of a Latin American country through open elections.
11/09/1970: General Motors strike ended. The Supreme Court of the United States votes 6 to 3 against hearing a case to allow Massachusetts to enforce its law granting residents the right to refuse military service in an undeclared war.
11/10/1970: For the first time in five years, an entire week ends with no reports of American combat fatalities in Southeast Asia.
11/12/1970: The1970 Bhola cyclone makes landfall on the coast of East Pakistan becoming the deadliest tropical cyclone in history. A 150-mphtropical cyclone hits the densely populated Ganges Delta region of East Pakistan (now Bangladesh), killing an estimated 500,000 people in one night. This is regarded as the 20th century's worst natural disaster.
11/17/1970: The Soviet Union lands Lunokhod 1 on Mare Imbrium (Sea of Rains) on the Moon. This is the first roving remote-controlled robot to land on another world and is released by the orbiting Luna 17 spacecraft. Lieutenant William Calley goes on trial for the My Lai Massacre.
11/23/1970: Market unsettled by U.S. commando-like raid near Hanoi, renewed bombing of North Vietnam.
100 years ago: November 1920
S&P 500: 7.2353 (vs. 3550.50 in 11/2020)
10-year U.S. Government Bond Yield: 5.21% (vs. 0.96% in 11/2020)
Gold: $20.67 (vs. $1940.80 in 11/2020)
Oil: $6.10 (vs. $40.84 in 11/2020)
GBP/USD: 3.4813 (vs. 1.3223 in 11/2020)
US GDP: $84 billion (vs. $21,157 billion in 09/2020)
US Population: 106.46 million (vs. 329 million in 2020)
11/02/1920: Harding wins popular vote 162:91. In the United States, KDKA of Pittsburgh, Pennsylvania starts broadcasting as the first commercial radio station. The first broadcast is the result of the United States presidential election, 1920.
11/07/1920: Patriarch Tikhon of Moscow issues a decree that leads to the formation of the Russian Orthodox Church Outside Russia.
11/12/1920: The Treaty of Rapallo between Italy and the Kingdom of Serbs, Croats and Slovenes, where Slovenia loses almost the whole province of Primorska, which is incorporated back again after the 2nd World War. Italy also gets the whole Istria together with the Trieste region (Trako).
11/15/1920: First assembly of the League of Nations is held in Geneva, Switzerland. The Free City of Danzig is established.
11/16/1920: Qantas, Australia's national airline, is founded as Queensland and Northern Territory Aerial Services Limited.
11/21/1920: In Dublin, 31 people are killed in what became known as "Bloody Sunday". This included fourteen British informants, fourteen Irish civilians and three Irish Republican Army prisoners.
11/28/1920: Kingdom of Serbs, Croats and Slovenes Constitutional Assembly election, 1920: The Democratic Party, People's Radical Party and Communist Party were the three most successful parties by number of seats received in the Assembly.
200 years ago: November 1820
S&P 500/GFD US-100: 1.633 (vs. 3550.50 in 11/2020)
10-year U.S. Government Bond Yield: 4.255% (vs. 0.96% in 11/2020)
Gold: $19.39 (vs. $1940.80 in 11/2020)
GBP/USD: 4.562 (vs. 1.3223 in 11/2020)
US GDP: $727 million (vs. $21,157 billion in 09/2020)
US Population: 9.6 million (vs. 331 million in 2020)
11/17/1820: Captain Nathaniel Palmer becomes the first American to see Antarctica. (The Palmer Peninsula is later named after him.)
11/20/1820: An 80-ton sperm whale attacks the Essex (a whaling ship from Nantucket, Massachusetts) 2,000 miles from the western coast of South America. (Herman Melville's 1851 novel Moby-Dick is in part inspired by this story.)
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Everyone hates Covid-19 and the way it has disrupted our lives. The Covid pandemic has shut down the world and led to the layoff of millions of workers. Unemployment has soared, GDP has declined, and businesses have gone bankrupt. With winter arriving in the northern hemisphere, Covid cases are likely to increase. The main consolation is that a vaccine is on the way, and once it is available, life can hopefully return to the pre-pandemic “normal” which we all enjoyed.