Share this article
A ‘Santa Claus Rally’ for the Stock Market?
Since 1969, 34 out of 45 years have seen a late December rally. Here are 5 reasons why that might not happen this year.
Updated Sep 14, 2021, 10:38 a.m. Published Dec 4, 2020, 8:00 p.m.
Make us preferred on Google
Since 1969, 34 out of 45 years have seen a late December rally. Here are 5 reasons why a Santa Claus rally might not happen this year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.
Today on the Brief:
- Payrolls report underperforms expectations
- Spotify looking for crypto director
- Lame-duck crypto legislation on the way?
Our main discussion: Will we see a “Santa Claus rally” this year?
This kind of rally refers to the fact that in about two-thirds of years since 1969, late December has seen a stock market rally, averaging a 1.4% gain.
This year, vaccine optimism combined with new stimulus seems poised to once again jingle Wall Street’s bells. A piece in Bloomberg, however, provides five charts and reasons why this market rally is already overbought and overblown, so this year might be more coal than eggnog.
See also: Josh Brown on Bitcoin’s ‘Respectability Rally’ and Why We’ll See Dow 100,000 in Our Lifetime
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
More For You
Accelerating Convergence Between Traditional and On-Chain Finance in 2026?
Commissioned bySociete Generale-FORGE
More For You
Wall Street analysts slash Coinbase price targets after Q4 miss — but shares rally
Barclays, Benchmark, Clear Street, and JPMorgan all cut targets, citing weak retail trading and macro headwinds.
What to know:
- Coinbase shares rose 12% even as the company missed fourth-quarter revenue and profit expectations and reported a significant hit from unrealized crypto and strategic investment losses.
- Several analysts cut their price targets and flagged near-term earnings and consumer monetization pressures.
- However, analysts highlighted the company's growing derivatives business, stablecoin footprint and subscription offerings as signs of a more diversified model.
Top Stories
