Today’s post is brought to you by Rob Kane, a senior investment research analyst on Commonwealth’s Investment Management and Research team. Over to you, Rob!

As I mentioned yesterday, one of the key data points that will determine whether we get a recession sometime next year is whether job growth continues. Tomorrow, we get the November 2019 jobs report. This report is a big one—not only for the economic impact but also for the potential market impact on whether we will really see a Santa Claus rally.

November was a great month for U.S. markets, with the S&P 500 up by 3.63 percent, the Dow up by 4.11 percent, and the Nasdaq up by 4.64 percent. All three indices are now up by more than 20 percent for the year. As we celebrated Thanksgiving, we had a lot to be thankful for. The news abroad wasn’t as good. But it also wasn’t as bad as the headlines might have suggested, as developed markets were up by 1.13 percent and emerging markets were down by just 0.13 percent. Given the headlines, those results are also pretty good.

November was another great month for U.S. markets, although international markets didn’t fare as well. Still, the news was positive given the worrying headlines on the Hong Kong riots and the ongoing trade dispute. Here in the U.S., consumer confidence remained at a strong level, and business confidence bounced back. Plus, job growth beat expectations, and new home sales were up.

What should we expect from the markets in 2020? Yesterday, I appeared on CNBC's The Exchange to discuss this and much more.

Last week was filled with economic updates, as we finished out the month of November. The highlight was the second estimate of third-quarter GDP growth, which showed faster economic growth than previously reported. This week, data releases will focus on business and consumer confidence, international trade, and November’s employment report.

Brad here. Today, we’re launching a new monthly column in which members of Commonwealth’s Investment Management and Research team will share their learnings and viewpoints on various topics with you. Our first post is from Nicholas Follett, manager of fixed income. Enjoy!

It has been proven that being grateful is one of the best ways to make your life better—to be both happier and more successful. Here on the blog, I try to focus on gratitude a couple of times a year. Of course, Thanksgiving is the perfect occasion to take a break and think about all the things we have to be grateful for.

This morning, I saw a commentary piece that pointed out we have had 12 record highs for the S&P 500 in the past month. A record is usually a big deal, and I often get calls to comment on what it all means. But I have to admit, I did not realize there had been that many in the past month. So, what does this series of highs mean, if anything?

Last week, the housing sector continued its recent rebound, as low interest rates and increasing consumer confidence helped deliver potential home buyers to the market. Despite the holiday, this week will be busy again. Tuesday and Wednesday are packed with economic updates as we head toward month-end.