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Santa Claus Rally Fails to Deliver, Stock Market Starts Year Weak

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Stocks,Market,Santa Claus Rally

The traditional Santa Claus rally, a period of market gains typically seen in the last trading days of December and the first two of January, did not materialize this year. The S&P 500 ended the period down 1.8%, sparking concerns about a potential lackluster performance for stocks in the coming year.

Santa Claus did not come to town this year. At least, as far as Wall Street is concerned. Through Thursday's close, the S & P 500 is down 1.8% during the so-called Santa Claus rally period — which runs across the last five trading days of one year and the first two of the of the following one.

"In the 21 occurrences since 1928 when the Santa rally did not happen, the forward returns for the SPX were still mostly positive over the next … 52 weeks, but they were just not as robust as in years when the rally occurred." Johnson noted the average S & P 500 return one year after a Santa rally didn't occur was just over 6.5%. In years following a Santa Claus rally, the benchmark index averages a 7.5% return.

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