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A ‘Santa Claus Rally’ for the Stock Market?
Since 1969, 34 out of 45 years have seen a late December rally. Here are 5 reasons why that might not happen this year.
Since 1969, 34 out of 45 years have seen a late December rally. Here are 5 reasons why a Santa Claus rally might not happen this year.
STORY CONTINUES BELOW
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.
Today on the Brief:
- Payrolls report underperforms expectations
- Spotify looking for crypto director
- Lame-duck crypto legislation on the way?
Our main discussion: Will we see a “Santa Claus rally” this year?
This kind of rally refers to the fact that in about two-thirds of years since 1969, late December has seen a stock market rally, averaging a 1.4% gain.
This year, vaccine optimism combined with new stimulus seems poised to once again jingle Wall Street’s bells. A piece in Bloomberg, however, provides five charts and reasons why this market rally is already overbought and overblown, so this year might be more coal than eggnog.
See also: Josh Brown on Bitcoin’s ‘Respectability Rally’ and Why We’ll See Dow 100,000 in Our Lifetime
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
