That's the end of regulation. Advisors Asset Management ringing the closing bell at the New York Stock Exchange,

wings for growth, doing the honors at the NASDAQ. Well, stocks closing lower on the second to last day of the year,

but finishing well off the worst levels of the session. Thin volume playing a role as the Santa Claus rally flounders.

That's the scorecard on Wall Street, but the action's just getting started. Welcome to Closing Bell overtime. I'm Morgan Brennan with John Ford.

Back together again. Coming up on today's show, tech investor Dan Niles joins us to talk about the Santa Claus rally that hasn't come yet.

And if the volatility to end the year is a bad signal for 2025.

Plus, housing stocks wrapping up a very rough month as treasury yields rise. We'll get

the outlook for the group in the new year when we're joined by the CEO of Invitation Homes.

But first, let's break down today's market action with Bespoke Investment Group co-founder

Paul Hickey and HSBC Global Private Banking and Wealth America's CIO, Jose Rasko.

Great to have you both here.

We have the S&P finishing down more than 1% and the NASDAQ down more than 1% as well.

The Dow basically right around the 1% mark. It's great to have you both here. Paul, I'm going to

start with you because, yes, we've got light liquidity, thin volumes. We don't have that manifestation of the Santa Claus rally.

Mike Santoli was just talking about it at the end of the last hour, the fact that we saw a similar dynamic last year.

We're still poised to finish up 24% on the S&P. What does history tell us about this moment in time?

Yeah, so I mean, I think as far as the December weakness is concerned, I wouldn't put a lot

of weight into that.

More recently, actually, the positive seasonalities of December haven't really been nearly

as strong.

Also, what's interesting to note is that this will be the of the fifth time that the S&P

500 was up 20% or more in an election year, and in four of those

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