According to Dow Jones Market Data, the S&P 500 index has traded higher 78% of the time during the end of the year for an average gain of 1.3%. This trend has earned the moniker of the Santa Claus rally.
However, this year has been one of those 22% of years with no Santa Claus rally. Unpleasant geopolitical surprises, decades-high inflation, and an unusually hawkish Federal Reserve have got us to a situation where positive data churned by a resilient economy was greeted with fresh bouts of volatility and panic-driven selloffs.
