It’s certainly feeling a lot more like Christmas, but are markets (^DJI, ^IXIC, ^GSPC) feeling as equally festive this December? Catalysts welcomes Carson Group Chief Market Strategist Ryan Detrick to speak more on the prospects of a Santa Claus Rally after a historic year for market gains.
While citing the Federal Reserve’s expected interest rate cut at this week’s policy meeting, Detrick expects markets to rise back to all-time highs by the end of 2024.
Despite the Dow Jones Industrial Average closing in negative territory the past seven sessions, “it’s more just the market kind of catching its breath for the end of year Santa Claus rally,” Detrick tells Seana Smith and Madison Mills. “Last year, Santa Claus didn’t come to town. Stocks were down during the Santa Claus rally last year…”
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This post was written by Luke Carberry Mogan.
