Reuters: Christmas market rally

21 December 2022 271
Load the latest quotes
Full screen

Source: Reuters

Author: Tom Westbrook

Article: Original article

Publication date: Wednesday, December 21, 2022

Overnight, Wall Street broke a four-day losing streak, and S&P 500 futures increased by 0.5% in Asian markets.

European stock futures also demonstrated a strong opening, as the Eurostoxx 50 futures rose by 0.74%, German DAX futures rose by 0.83%, and FTSE futures showed an increase of 0.39%.

Asian stock indices gained slightly as well, with even Japan's Nikkei rebounding from its two-month low recorded after the Bank of Japan’s unexpected decision to ease the yield cap on government bonds.

Damian Rooney, a dealer at Argonaut Securities in Perth, stated that sentiments in the market are quite optimistic. A little version of a Santa Claus rally is taking place, according to his words, meaning typical market growth in late December.

However, Citi analysts warn that the lull in the stock markets may be short-lived, therefore, the situation may become volatile.

Forecast: the S&P 500 index’s rebound

This content is for informational purposes only and is not intended to be investing advice.

New Popular
Commenting rules