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

📆 12/23/2022 7:00 PM
📰 Reuters

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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.

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