| 词条 | Santa Claus rally |
| 释义 |
A Santa Claus rally is a rise in stock prices in the month of December, generally seen over the final week of trading prior to the new year.[1][2] It is a type of calendar effect.{{Citation needed|date=December 2018}} There is no generally accepted explanation for the phenomenon.[1] The rally is sometimes attributed to increased investor purchases in anticipation of the January effect,[1] an injection of additional funds into the market, and to additional trades which must, for accounting and tax reasons, be completed by the end of the year.[1][2] Other reasons for the rally may be fund managers "window dressing" their holdings with stocks that have performed well,{{Citation needed|date=December 2018}} and the domination of the market by less prudent retail traders as bigger institutional investors leave for December vacations.[1] The Santa Claus rally is also known as the "December Effect" and was first recorded by Yale Hirsch in his Stock Traders Almanac in 1972.[3] An average rally of 1.3% has been noted during the last five trading days of December for the NYSE since 1950.[1][4] December is typically also characterised by highest average returns, and is higher more often than other months.[1] The failure of the Santa Claus rally to materialise typically portends a poor economic outlook for the coming year; a lack of the rally has often served as harbinger of flat or bearish market trends in the succeeding year.[2][1] See also
References1. ^1 2 3 4 5 6 7 {{Cite web|url=https://finance.yahoo.com/news/santa-claus-rally-horizon-195226878.html|title=Is A Santa Claus Rally On The Horizon?|website=finance.yahoo.com|language=en-US|access-date=2018-12-17}} 2. ^1 2 {{Cite web|url=https://www.wsj.com/articles/u-s-stocks-need-a-santa-claus-rally-to-avoid-a-losing-year-11545022860|title=U.S. Stocks Need a Santa Claus Rally to Avoid a Losing Year|last=Menton|first=Jessica|date=December 17, 2018|website=The Wall Street Journal|archive-url=|archive-date=|dead-url=|access-date=}} 3. ^{{cite web |url=https://finance.yahoo.com/blogs/breakout/santa-claus-rally-not-believe-153852263.html |title=The Santa Claus Rally: It’s Not Make Believe |author=Matt Nesto |date=December 18, 2012}} 4. ^{{Cite news|url=https://www.reuters.com/article/us-global-markets-idUSKBN1OG01T|title=Global stocks dip as 'Santa Claus rally' elusive, oil rises|date=2018-12-17|work=Reuters|access-date=2018-12-17|language=en}} External links
2 : Stock market|Calendar effect |
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