Business Columnists

Santa Claus Rally Loses Ground on Rising Bond Yields

The arrival of the Santa Claus rally aided the positive Wall Street sentiment and further boosted the NASDAQ and Russell 2000 indexes.
Santa Claus Rally Loses Ground on Rising Bond Yields
Traders work on the floor of the New York Stock Exchange during morning trading on Nov. 26, 2024. Michael M. Santiago/Getty Images
Panos Mourdoukoutas
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U.S. stocks sold off on Friday on rising bond yields but ended the shortened trading week higher, reversing the previous week’s losses.

The S&P 500 ended Dec. 27 at 5,970, up 1.77 percent for the week; the Dow Jones closed at 42,922 up by 1.54 percent; the Nasdaq finished the week at 19,722 up 1.80 percent; and the small-cap Russell 2000 was up 1.04 percent to end at 2,244.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”