Did you know that, for over â…” of Decembers since 1960, the markets have delivered net gains to investors?
Regardless of the reason, many have aptly dubbed December’s bullish sentiment as the “Santa Rally.”
Of course, things are a little different this year (or, at least, similar to last year, which wasn’t exactly normal).
Inflation has jacked up prices of everything.
Despite the Fed’s accelerated taper, things are getting more expensive by the day.
Related, supply chain issues have directly impacted the average consumer’s ability to buy the gifts they need. It’s made travel more expensive, too, thanks to rising energy prices.
You’d think new COVID variant Omicorn would weigh the market down. And it has for the past few weeks.
The Santa Rally – It’s actually the last 5 business days of December and the first 2 business days of the New Year…
Which means it should be starting right about now.
And here’s the good news…
The bulls have come out with full strength just in time. Yesterday (which was last trading day before Christmas 🎅🏻) the Dow, Nasdaq, Russell and S&P 500 all saw significant gains as virus concerns eased.
Also, new data shows that consumer spending rose last month, while unemployment claims stayed below pre-pandemic levels last week.
Looks like Santa could be leaving the gift of profits under the tree despite the chaos after all.
Trade safe ..!!