Stocks had their worst Christmas Eve ever 1 year ago. Here's how they did since
For some investors on Wall Street at this time last year it was a Nightmare before Christmas, as an escalating U.S. - China trade war and Federal Reserve interest rate hikes cast a pall over the holiday.
“So, a year later, what was the bigger surprise? The 2018 fourth quarter massacre or the monstrous rally from those lows?” asked Frank Cappelleri, executive director at brokerage Instinet. Although at least one expert believes the market is currently in a “silly season”, others believe that equity indexes could continue to climb higher into next year, despite lackluster corporate earnings.
As when it comes to economic fundamentals, better clarity on U.S. international trade policy may help drive increased business spending and more productivity, which we think will lead to stronger earnings growth in 2020, argued John Lynch, Chief Investment Strategist for LPL Financial, in a note on Tuesday.
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