December is usually the strongest month of the year for the stock market investors, but this December has gotten off to a slow start. As of yesterday’s close, the S&P 500 was down about 1.3% for the month. Is the weak start to December a signal that Santa might not be coming to Wall Street this year? That’s possible, but historically the Santa Claus rally doesn’t get underway for a few more days. Our chart shows that the strong gains in December don’t start until around mid-month. Mid-month also happens to coincide with the next Fed meeting. That raises the question: Will Chair Yellen play the role of the jolly old elf or the Grinch?
Jeremy Jones, CFA
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