Here are 2 things we're watching in the stock market this week
Will Santa Claus come to Wall Street? And, how do holiday shoppers feel about the economy?
TL;DR
- The trading week is shortened due to Christmas Eve and Christmas Day holidays.
- Investors are watching for a "Santa Claus rally," historically a period of gains.
- Consumer confidence dipped in November, with concerns about jobs and inflation.
- December's consumer confidence data is due Tuesday.
- November jobs data showed growth, but the unemployment rate rose.
- November inflation figures showed a smaller-than-expected increase.
- The S&P 500 was up 16.2% year to date as of last Friday.
- The Santa Claus rally period includes Dec. 24, 26, 29, 30, 31 and Jan. 2, 5.
- Yale Hirsch coined the term 'Santa Claus rally' in 1972.