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.
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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.