EDITOR'S NOTE
Stock investors may get a smooth ride into the new year on a flying sleigh.
In what's known as the Santa Claus rally, the stock market typically rises during the last five trading days of the year and into the first two trading days of the new year, writes CNBC's Yun Li.
Santa doesn't appear every year, but he has set the trend for 8 of the past 10 years. And with 2019's phenomenal gains, there's little chance for tax-loss selling to hold back the market, writes CNBC's Patti Domm.
Stocks hit new highs once again on Friday, cementing a four-week winning streak.
From here, a Santa Claus rally would put a golden star atop a brightly lit tree. The S&P 500 is up more than 28% this year, closing in on 2013’s gain of 29.6%.
"I see no reason for it not to appear," Jeffrey Hirsch, editor-in-chief of the Stock Trader’s Almanac, told CNBC's Dominic Chu.
We can only hope because, as Hirsch noted, there's an old saying tied to this holiday lore: "If the Santa Claus rally should fail to call, the bears may come to Broad and Wall." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
TOP NEWS
TOP VIDEO
CNBC PRO
SPECIAL REPORTS
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
