Is the Santa Stock Market Rally real?
Update: 2024-12-05
Description
In this episode, Michael Hewson and Michael Brown (our sponsor Pepperstone's Chief market Strategist) talk about the wider narrative of the Santa Rally when it comes to stock markets.
They also look back at this week’s numbers from Frasers Group and Balfour Beatty and discuss the decision by the CMA to ratify the Vodafone/Three mega-merger.
Looking ahead to next week, they discuss what to expect from the European Central Bank on interest rates, and the outlook for the European economy, as well as looking at US CPI, and the latest results from British American Tobacco, GameStop and Broadcom.
Takeaways:
- Markets are generally positive as we approach the holiday season.
- The Santa rally is often debated; its existence may be more narrative than reality.
- Recent economic indicators show weakness in manufacturing and services.
- Fraser's Group is facing challenges, impacting its stock performance.
- Balfour Beatty is performing well, raising profit guidance.
- M&A activity is notable, with Vodafone and Three's merger approved.
- UK equity inflows have turned positive for the first time in years.
- The Fed is cautious, balancing growth and inflation risks.
- Investors should remain selective and conduct thorough research.
- The upcoming economic data will be crucial for market direction.
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