Sports

December the ‘second-best’ month for markets

InvestSMART Chief Market Strategist Evan Lucas says December is historically the second-best month of the year for markets and this currently shows. 

It comes as markets have surged in recent days, bouncing back from damage caused by Omicron. 

Mr Lucas says traditionally the "Santa Claus rally" starts around December 5 and lasts about 15 days before going quiet around Christmas. 

"We're still about three per cent down from the peak of the all-time high we reached in August, but yes, it's nice to see," he told Sky News Australia.

"It is around the idea that it's finishing off the year, a lot of investors will basically take most of the 20th through to about the 12th of January off, and therefore they tend to have a position to hold through that period.

"December, historically, is the second-best month of the year and so far we're showing that."

InvestSMART Chief Market Strategist Evan Lucas says December is historically the second-best month of the year for markets and this currently shows.

It comes as markets have surged in recent days, bouncing back from damage caused by Omicron.

Mr Lucas says traditionally the “Santa Claus rally” starts around December 5 and lasts about 15 days before going quiet around Christmas.

“We’re still about three per cent down from the peak of the all-time high we reached in August, but yes, it’s nice to see,” he told Sky News Australia.

“It is around the idea that it’s finishing off the year, a lot of investors will basically take most of the 20th through to about the 12th of January off, and therefore they tend to have a position to hold through that period.

“December, historically, is the second-best month of the year and so far we’re showing that.”InvestSMART Chief Market Strategist Evan Lucas says December is historically the second-best month of the year for markets and this currently shows.

It comes as markets have surged in recent days, bouncing back from damage caused by Omicron.

Mr Lucas says traditionally the “Santa Claus rally” starts around December 5 and lasts about 15 days before going quiet around Christmas.

“We’re still about three per cent down from the peak of the all-time high we reached in August, but yes, it’s nice to see,” he told Sky News Australia.

“It is around the idea that it’s finishing off the year, a lot of investors will basically take most of the 20th through to about the 12th of January off, and therefore they tend to have a position to hold through that period.

“December, historically, is the second-best month of the year and so far we’re showing that.”

Read Next



Source link

Leave a Reply

Your email address will not be published.

close