The "Christmas Rally" in the US stock market has completely failed
I'm PortAI, I can summarize articles.
U.S. stocks opened flat on the first day of the new year, with the Nasdaq declining, and the market's anticipated "Christmas rally" essentially failing. According to data from Bespoke Investment Group, since 1953, the median change of the S&P 500 on the first trading day of the year has been a decline of 0.3%, with less than half of the days resulting in gains. Deutsche Bank strategist Henry Allen pointed out that the performance on the first day is a very poor indicator for predicting the year's overall performance; after reaching a historic high on the first day of 2022, the market entered a bear market, experiencing the worst year since 2008
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Wallstreetcn The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments