The market continues to chase risks The US dollar continued its downward trend yesterday

The market continues to chase risks

The US dollar continued its downward trend yesterday

On Tuesday (December 26th), Wall Street kicked off the final week of 2023 with a stock market rally, continuing the upward trend that brought the market close to record levels. The so-called Santa Claus market usually covers the last 5 trading days of the year and the first two trading days of the new year, and this trend has a strong historical record. According to Stock Trader's Almanac data, the S&P 500 index has risen an average of 1.3% in 7 days since 1969.

Morgan Stanley E * Trade analyst Chris Larkin said, “The focus will soon shift to whether the market can maintain momentum into the new year, which may depend on how long the favorable atmosphere of potential Fed rate cuts can last.”

The S&P 500 index rose to 4774.75 points after completing its longest weekly rise since 2017. The increase exceeds 5%. The Russell 2000 Small Cap Index rose 1.2%.