NEW YORK -After closing the books on a banner year for U.S. stocks, investors expect to ride seasonal momentum into mid-January when a slew of economic data and a transition of power in Washington could send markets moving.On Friday, however, stocks sold off amid some profit taking and questions about how markets could perform in January, according to analysts and traders.
Despite the Friday selloff, for the last five trading sessions, the S&P rose 1.77%, while the Nasdaq was up 1.8%. The market's strength will be tested again shortly after, when U.S. companies start reporting fourth-quarter earnings. Trump's inauguration on Jan. 20 could also throw the markets some curve balls. He is expected to release at least 25 executive orders in his first day on a range of issues from immigration to energy and crypto policy.
"We're looking ahead to see which of those proposed policies actually are enacted, which might be further down the pipeline," Given said, adding she expected a big impact on the euro, Mexican peso, the Canadian dollar, and the