Why stock-market bulls say 'Santa rally' may have already started as equities surge to kick off November

📆 02.11.2023 19:52:00
📰 MarketWatch

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William Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.

Stock-market bulls looking for a year-end rally are feeling encouraged as a four-day rally accompanied by retreating bond yields helps take the sting out of three-month retreat that sent the S&P 500 and Nasdaq Composite into market corrections.

“Halloween is over…it is conceivable here that the Santa Claus rally has already started simply because pessimism was so thick in September and October,” markets economist Ed Yardeni, president of Yardeni Research Inc., told MarketWatch Thursday.

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Wall Street analysts are souring on stocks. That could mean the S&P 500 is poised for a 15% rally.Joseph Adinolfi is a markets reporter at MarketWatch.
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