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Goldman Sachs Analyst Predicts US Stock Market Is About to See a "Santa Claus Rally"
BlockBeats News, December 19th, Traders spent most of December speculating whether the typical year-end "Santa Rally" would materialize as expected. The S&P 500 index rose 0.8% on Thursday, ending a four-day losing streak that had persisted earlier in the month. Drawing on historical trends, the stock market may continue its ascent: Castle Securities' data shows that since 1928, the S&P 500 index has had a 75% probability of rising in the last two weeks of December, with an average gain of 1.3%
The Goldman Sachs trading desk team, including Gail Hafif, stated: "It will be hard to resist the seasonal tailwind we are about to enter and a more favorable positioning unless there is a significant shock. Though we do not necessarily expect a sharp rally, we do see room for further upside from here through year-end." (FXStreet)
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