It certainly feels more like Christmas, but will the markets this December (^DJI, ^IXIC, ^GSPC) be just as festive? Catalysts welcomed Carson Group chief market strategist Ryan Detrick to have more to say about the prospects for Santa Claus rallies after a year of historic market growth.
While citing the Federal Reserve’s expected interest rate cut at this week’s policy meeting, Detrick expected the market to return to record highs by the end of 2024.
Although the Dow Jones Industrial Average has closed in negative territory for the past seven trading days, “it’s more like the market is taking a breather for the Santa Claus party at the end of the year,” Detrick told Xena Smith and Madison Mills. “Santa Claus didn’t come to town last year. The stock market fell during the Santa Claus rally last year…”
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The author of this article is Luke Carberry Morgan.
