The Zacks Analyst Blog Highlights American Public Education, Affirm, Barrett Business Services and 8×8
For Immediate Release
Chicago, IL – December 28, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: American Public Education APEI, Affirm AFRM, Barrett Business Services BBSI and 8×8 EGHT.
Here are highlights from Wednesday’s Analyst Blog:
4 Stocks to Make the Most of the Santa Claus Rally
It’s been hunky-dory for the U.S. stock market so far this year. But just because the stock market has scaled upward, it doesn’t mean this is a Santa Claus rally. In 1972, market analyst Yale Hirsch in the Stock Trader’s Almanac first coined the term Santa Claus rally, indicating an uptick in stock prices beginning after Christmas and lasting through the first two trading sessions of January.
During this bullish period, the 30-stock Dow has moved northward 77% of the time since 1896. The odds of the S&P 500 and the Nasdaq scaling upward this year-end are also significantly higher. In reality, the odds of the stock market going up are far better than any periods of comparable length during the rest of the year.
What’s more, all three major U.S. bourses registered gains on Dec 26, the first trading session of the Santa Claus rally period. The S&P 500, in particular, touched its highest intraday level since the beginning of 2022 and is on track to notch its biggest quarterly gains in almost three years. The Dow rose 0.4% in the last trading session, while the Nasdaq advanced 0.5%.
And why won’t the stock market rise during the rest of this year and beyond? The Federal Reserve’s move to end its interest rate hike cycle will surely help the stock market