Reported 3 days ago
As 2024 ends, US stocks are experiencing a downturn that may jeopardize the anticipated Santa Claus rally, largely attributed to year-end asset reallocation influenced by tax considerations. Despite the sell-off, optimism remains among investors, who are keeping an eye on the Federal Reserve's outlook for 2025. Strategist Steve Sosnick suggests that while there are uncertainties regarding fiscal policy, the potential for a Santa rally is still alive, though market behavior may become unpredictable due to upcoming shortened trading weeks.
Source: YAHOO