Stocks are off to a mixed start in January, failing to capitalize on the 'Santa Claus' rally. Investors are closely watching how the month unfolds, as it historically sets the tone for the year. Next week's jobs report and the NYSE closure for President Carter's funeral add to the market's volatility.
Investors are facing a uncertain January outlook with a mixed start to the year and a looming jobs report . Stocks have seen a choppy performance, ending lower in the first trading session but gaining ground on Friday. The traditional 'Santa Claus' rally, where stocks rise in the final trading days of one year and the first two of the next, has also failed to materialize, further adding to the uncertainty.
Investors are closely watching how the rest of January unfolds, as it historically sets the tone for the rest of the year. Data shows that 14 out of the last 18 post-presidential election years followed January's direction. Every down January since 1950 has preceded a bear market, a flat market, or a 10% correction. Next week will also mark the end of the first five trading days of January, an early indicator of the month's performance. Sam Stovall, chief investment strategist at CFRA Research, highlights the importance of January's performance, stating, 'I do think that January will be an important read for the full year.' The S&P 500 is on pace for a losing week, with all three major averages down by nearly one percentage point. The New York Stock Exchange will be closed on Thursday, January 9th, to mourn the death of former President Jimmy Carter. The month will also conclude with the December jobs report, a crucial data point before the Federal Reserve's meeting at the end of the month
INVESTORS JANUARY OUTLOOK JOBS REPORT STOCK MARKET FEDERAL RESERVE
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