All aboard the Santa Rally sleigh
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 22 December 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Show Notes
Senate passes bill to prevent government shutdown, Biden signs
Dividend Roundup
Episode transcripts: seekingalpha.com/wsb
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Brunch, our Sunday look-ahead to this week's |
| 0:09.9 | market-moving events, along with the weekend's top news and analysis. |
| 0:14.8 | Hello, today is Sunday, December 22nd, and I'm your host, Kim Khan. |
| 0:19.0 | Investors will enjoy a holiday shortened trading week. The stock and bond markets are shut on Wednesday for Christmas Day, and I'm your host, Kim Khan. Investors will enjoy a holiday shortened trading week. The |
| 0:21.7 | stock and bond markets are shut on Wednesday for Christmas Day, and both will also close |
| 0:25.6 | early on Tuesday for Christmas Eve. But while there are no major earnings, there's still the |
| 0:30.0 | Santa Claus rally to watch out for. First defined by the legendary stock trader's almanac in |
| 0:34.7 | 1972, the Santa Rally refers to the tendency for stocks to |
| 0:38.4 | gain during the last five trading days of December and the first two trading days of January. |
| 0:43.1 | So it should start Tuesday. Going back to 1969, the benchmark SMP 500 has been up nearly |
| 0:48.9 | eight out of ten times during this period, rising an average of 1.3%. So, is it all aboard the sleigh? |
| 0:56.0 | Traders may be reticent after last week's Fed dots deflated what was looking to be a strong |
| 1:00.0 | final month to a strong year. |
| 1:02.0 | David Lout, CIO of Abound Financial, said earlier in the month that the Santa Claus rally |
| 1:07.0 | that we typically see at the very end of the year likely came early this year, as there |
| 1:11.1 | are very few near-term catalysts to push stocks higher. Looking at where the indexes stand, if anything |
| 1:16.2 | could use some holiday cheer, it's the Dow. It's been hammered down 4.6% in December, and trailing |
| 1:22.0 | the broader market for the year up nearly 14%. The SMT is down 1.7% for the month following the Fed sell-off, so there's |
| 1:29.7 | room to run, but it's already notched a 24% gain for 2024. The NASDAQ composite is still in the |
| 1:35.5 | green for December, up 1.9% and more than 30% for the year. There are other factors at play at this |
| 1:41.3 | time of year as well. Wolf Research notes that there is a bounce trade of the worst-performing stocks as tax-loss selling wraps up. The worst-performing |
| 1:49.2 | stocks historically outperformed by an average of about 250 basis points during the last two weeks |
... |
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