Stock strategists say there's a good chance for a December rally, but the market may not be as generous to investors in the first part of next year.
Stock strategists say there's a good chance for a Santa Claus rally next month, but the market may not be handing out many gifts to investors in the first part of next year. Some strategists see a bottoming for stocks in the first part of 2023, but others say the key indexes could avoid breaking down to a new low but remain volatile. The S & P 500 rose back above 4,000 Tuesday and was holding above that level on Wednesday. Its recent intraday low of 3,491.58 was set on Oct. 13.
" Stovall was referring to the steep inversion of the Treasury yield curve, meaning that short-end rates, like the 2-year Treasury yield, are well above the longer term, like the 10-year. That is viewed as a recession warning. With the 10-year at about 3.73% Wednesday, that so-called inversion was more than 75 basis points. A basis point equals 0.01 of a percentage point.
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