EDITOR'S NOTE
Day two of the Santa Claus rally pushed the Nasdaq above the 9,000 mark for the first time, and the S&P to yet another record high.
There are three trading days left for 2019 (although there's an early close on New Year's Eve) and what a year it has been with the S&P up about 29% and the Nasdaq up nearly 36%. Then we'll get two more days in January to mark the end of the classic Santa Claus rally period.
Bespoke analysts recently noted that the market's performance under President Trump has bested the average of all other presidents in their first three years, writes CNBC's Maggie Fitzgerald.
The third year of a president's term tends to be the best, according to Bespoke, so 2019 was in keeping with that trend. Chances are good that year four of Trump's term will bring more gains. Stocks are up in a president's fourth year about 66% of the time.
“Stocks look like they just wont quit. The rally is for real,” Chris Rupkey, chief financial economist at MUFG, said in a note Thursday. “The economy’s engines continue to hum.”
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