News Formal

Wall St Week Ahead Investors look for 'Santa Rally' after grim year in U.S. stocks

  • 📰 Reuters
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Bruised investors are hoping a so-called Santa Claus rally can soften the pain of a tough year in U.S. stocks and potentially brighten the outlook for 2023.

and other names that had led markets higher in previous years. The index is down nearly 20% year-to-date and on track for its worst annual performance since 2008.

The phenomenon has lifted the S&P 500 an average of 1.3% since 1969, according to the Stock Trader's Almanac. A December without a Santa rally has been followed by a weaker-than-average year, data from LPL Financial going back to 1950 showed. This month's steep decline underscores how seasonal trends seem to be offset by worries over whether the Federal Reserve's monetary tightening will plunge the economy into recession.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks open lower on Wall Street ahead of Christmas holiday | amNewYorkStocks are off to a weak start on Wall Street following some mixed news on the economy. The S&P 500 was down 0.5% Friday. The government reported that a
Source: amNewYork - 🏆 336. / 59 Read more »