Call it early Christmas - or the “Santa Claus rally” - but after three consecutive months of losses, bulls finally had something to cheer in November as both the Dow Jones Industrial Average ($DOWI) and S&P 500 Index ($SPX) rose almost 9% each to record their best months of the year. Meanwhile, the Nasdaq Composite ($NASX) rose 10.7% amid the rally in tech stocks. November played to the historical script of being a seasonally strong month – just as September held on to its reputation as the worst month of the year for the market.
That said, even as the Dow Jones is just marginally below its all-time highs, many of its components are underperforming - and even worse, some are in the red for the year. In particular, Nike (NKE) and Walt Disney Company (DIS) are two Dow Jones components that are underperforming the index in 2023, but I believe both of these stocks could deliver the goods in 2024. Here’s why.
