Wall Street hoping for Santa Claus Rally

Nov 14, 2012, 8:09 AM | Updated: 8:09 am

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.”

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Pexels Photo)...
Kevin Stone

Georgia man sentenced to decade in prison by judge in Arizona in romance scam case

A federal judge in Arizona sentenced a Georgia man to nearly 11 years in prison for conspiring to defraud more than $1 million in a romance scam that targeted elderly victims.
15 hours ago
Democrat Katie Hobbs (left) and Republican Kari Lake, candidates for governor in Arizona's 2022 gen...
Kevin Stone

Here’s how Hobbs-Lake race for Arizona governor echoes 2016 presidential contest

A Valley pollster says the way the race for governor in Arizona is starting reminds him of a previous matchup between a fiery media personality and an established politician.
15 hours ago
(Photo by Jeff Topping/Getty Images)...
Danny Shapiro

Storms on Friday, Saturday could bring flooding, over 2 inches of rain to most of metro Phoenix

A meteorologist says the strongest storm system of the monsoon season will hit metro Phoenix over the next couple of days.
15 hours ago
(Twitter Photo/City of Mesa)...
KTAR.com

ASU film, digital media school opens in downtown Mesa

And ... action! Students in film, video production and digital technology will begin fall classes Thursday at the new Arizona State University campus in downtown Mesa.
15 hours ago
Member of the United States Hispanic Chamber of Commerce participate in a regional salon dinner in ...
Kevin Stone

Hispanic chamber holding national conference in Phoenix this fall, with preview event Thursday

The United States Hispanic Chamber of Commerce will hold its 2022 national conference in Phoenix this fall, with a kick-off reception set for Thursday night.
15 hours ago
(AP Photo, File/Nati Harnik)...
Associated Press

Arizona judges reject challenges to 2 voter initiatives for November ballot

Judges rejected challenges to two Arizona voter initiative on Wednesday, siding with proponents of a measure limiting so-called predatory debt collection and for one that would require people who fund political campaigns through nonprofit groups to be identified.
15 hours ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Ways to prevent clogged drains and what to do if you’re too late

While there are a variety of ways to prevent clogged drains, it's equally as important to know what to do when you're already too late.
...
Mayo Clinic Orthopedics and Sports Medicine

Why your student-athlete’s physical should be conducted by a sports medicine specialist

Dr. Anastasi from Mayo Clinic Orthopedics and Sports Medicine in Tempe answers some of the most common questions.
...
Dr. Richard Carmona

Great news: Children under 5 can now get COVID-19 vaccine

After more than two years of battle with an invisible killer, we can now vaccinate the youngest among us against COVID-19. This is great news.
Wall Street hoping for Santa Claus Rally