Santa Claus rally is in full swing
In addition to rate-cut expectations, stocks are getting some seasonality help. Indeed, markets are right in the middle of the so-called Santa Claus rally, a period encompassing the last five trading days of December and the first two trading days in January when stocks historically do well.
"[T]hese 7 days are more likely to be higher than any other 7 days of the year, [with the S&P 500] up 79.5% of the time," writes
Ryan Detrick, chief market strategist at Carson Group,
on X. The data Detrick cites goes back to 1950, and shows the S&P 500 has averaged a 1.3% gain over the seven-day time frame.
Get the Biden blowhorns ramped up. Better spin this into the popularity polls.
If he wasn't such a crooked fuck up I'd give him credit.
