US STOCKS-S&P 500 ends down after rallying to best November ever

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* Dow sees biggest monthly gain since 1987
* IHS Markit rises on $44 bln buyout deal from S&P Global

(Updates with afternoon trading)
By Noel Randewich
Nov 30 (Reuters) - The S&P 500 index .SPX ended lower on
Monday as investors took profits after a sharp rally in recent
weeks that led to the benchmark's best November ever.
Most of the major S&P 500 sectors fell, with the energy
index .SPNY leading losses, tracking a drop in crude prices.
O/R
The S&P 500 technology index .SPLRCT rose, thanks to a
rise in Apple Inc AAPL.O shares.
IHS Markit INFO.N topped gains on the S&P 500 after data
giant S&P Global agreed to buy the financial information
provider in a $44 billion deal that would be the biggest
corporate acquisition of 2020. Month-end rebalancing of portfolios played into Monday's
weakness, analysts said, as investors cashed in on gains after a
strong month marked by updates of COVID-19 vaccines making
headway and hopes of a swift economic rebound next year.
A rotation into energy, industrials and financials, all
expected by many investors to outperform as the economy recovers
from its downturn, have driven gains of more than 10% for the
S&P 500 in November and helped the Dow Jones Industrial Average
.DJI make its biggest monthly gain since 1987.
"I would attribute (Monday's drop) to compounding concerns
over the coronavirus, combined with the market just looking to
digest some of the recent gains over the past month," said CFRA
Chief Investment Strategist Sam Stovall.
"When you sprint and get out of breath, you have to slow
down to catch your breath."
After an explosion in infections and business restrictions
this month that stalled the U.S. labor market recovery, the
focus has shifted to Tuesday's address by Fed Chair Jerome
Powell before the Senate Banking Committee, the Fed's Beige Book
on Wednesday and the monthly jobs report on Friday.
Unofficially, the Dow Jones Industrial Average .DJI fell
265.91 points, or 0.89%, to 29,644.46, the S&P 500 .SPX lost
16.5 points, or 0.45%, to 3,621.85 and the Nasdaq Composite
.IXIC dropped 7.11 points, or 0.06%, to 12,198.74.
U.S. Health Secretary Alex Azar said on Monday the first two
vaccines against the novel coronavirus could be available to
Americans before Christmas. Moderna Inc MRNA.O surged after it unveiled plans to apply
for U.S. and European emergency authorization for its COVID-19
vaccine.
Macy's Inc M.N and Kohl's Corp KSS.N fell after masked
shoppers turned up in smaller numbers at major U.S. retailers on
Black Friday, as early online deals and concerns about a spike
in COVID-19 cases dulled enthusiasm for mall trips. Nikola Corp NKLA.O plummeted after the company and General
Motors Co GM.N announced a reworked deal on a fuel-cell
partnership that eliminates an equity stake in the startup for
the Detroit automaker and plans for building its electric pickup
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S&P 500 set for its best November ever https://tmsnrt.rs/2JbECsp
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