Wall Street ends higher as rate-cut fever lingers
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December 19, 2023 1:14 PM EST
The Santa Claus rally is real, according to BofA in a research note Tuesday, with the firm noting the S&P 500 has rallied 3.3% over the first ten sessions of December, which ended on 12/14.
Analyst Stephen Suttmeier provided data backing up the claims in the note, revealing that for all years going back to 1928, the last ten trading days of December are up 72% of the time on an average return of 1.17% (0.95% median).
"In Year 3 of the... More
December 19, 2023 6:40 AM EST
Futures positioning is currently extended and one-sided after a massive rally in stocks since late October. With profit levels accumulating, there is a potential for short-term profit-taking and headwinds, Citi strategist Chris Montagu writes.
Nasdaq 100 futures observed $14 billion in new long flows last week, while S&P 500... More
