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Wall Street hoping for Santa Claus Rally

PHOENIX -- More than a month away from Christmas investors are anxiously hoping that Santa comes for a visit and Congress isn't Scrooge.

A Santa Claus Rally is a surge in stock prices that often occurs during the week between Christmas and New Year's Day. KTAR's Smart Investor Wayne Stutzer said it has been a good predictor of the market's performance in January and the year ahead.

"It has worked more times than not," he said. "As January goes, so goes the year. If you think that's going to happen you start buying ahead of that time."

But this year there's a twist, known as the fiscal cliff, and Congress could put a stop to the rally.

"You may see more selling than buying so we may not get the typical rally. We may get coal this year," said Stutzer.

Stutzer said he's hopeful Congress and the president can hammer out an agreement that keeps the nation from going off the fiscal cliff.

"The best Santa Rally would be if Congress does do something positive."

About the Author

Position: Senior News Reporter. Started with KTAR July 4, 1999.

Favorite spots in Arizona: Pinetop-Lakeside, Alpine, Greer.

Have covered some of the biggest stories in Arizona including nine of the top 10 largest wildfires in state history. The Wallow Fire in 2011 became the largest fire in state history. Rodeo-Chediski Fire in June 2002, which is the second largest fire in Arizona. Covered the Yarnell Hill Tragedy in June 2013 that left 19 Granite Mountain Hotshots dead.

Favorite movies: True Grit, both 1969 John Wayne classic and the remake with Jeff Bridges and Lonesome Dove.

Sports Teams: Washington State University Cougars, Texas Longhorns, The University of Montana Grizzlies.


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