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Santa Claus could arrive next week just in time to help stocks end the year on a high note following this week's selloff. December is historically the second-best month in a U.S. presidential election year for the Dow Jones Industrial Average and S & P 500, according to the Stock Trader's Almanac . For the Nasdaq Composite, presidential election year Decembers are usually the fifth-best of the year, with the tech-heavy index rising an average 0.9%. The market's 'pass/fail test' A Santa Claus rally — which typically occurs in the last five trading days of the year and the first two in January — could be just the boost the S & P 500 needs. Some investors expect it's possible the S & P 500 could rally more than that next week, possibly even ending the year at 6,100, or above its previous all-time closing high.
Persons: Nick, Dow, pare, Eric Clark, Santa, Mike Dickson, Santa Claus, Katie Stockton, CNBC's, Friday's, Clark Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, Brands Fund, Dow Jones, New York Stock Exchange, Horizon Investments, Brands, Chicago, New, Richmond Fed, NYSE Locations: Santa, U.S
Among the megacap stocks, Alphabet , Amazon and Microsoft grew year-over-year, cloud-based revenue by 35%, 19% and 20%, respectively. But of the five largest companies that have so far reported results — Meta Platforms , Alphabet, Amazon, Apple and Microsoft — only two finished the week higher. META 5D mountain Meta, 5 days Commentary from some of the tech companies signaled that AI demand remains robust. Amazon CEO Andy Jassy justified stepped up AI spending, saying that investors will be rewarded over the long haul. AMZN 5D mountain Amazon, 5 days Meanwhile, the still enormous spending patterns among megacap technology companies signals no downturn for de facto AI leader Nvidia.
Persons: Gene Munster, Sundar Pichai, Andy Jassy, Ray Wang, Wang, Mark Malek, Constellation's Wang, Satya Nadella's, Eric Clark, Clark Organizations: Microsoft, Apple, Constellation Research, Brands, Nvidia
Brian Niccol and Elliott Hill are taking over Starbucks and Nike , respectively, just as a key market that weighed on their predecessors gets a boost. As China's economic stimulus takes shape, it could end up helping these global brands. Nike and Starbucks in China While the exact plans for Niccol and Hill are still unclear, the Chinese market seems like it will be an area of focus. At Starbucks, the company's leadership team in China has already been reshuffled since Niccol took over in September. Still, a rebound for China's consumer won't necessarily boost sales for Starbucks and Nike without better execution.
Persons: Brian Niccol, Elliott Hill, Hartmut Issel, Niccol, Matthew Friend, Hill, Chen Luo, Ellen Hazen, . Putnam, Hazen, Eric Clark, I'd, it's, Clark, America's Luo, — CNBC's Michael Bloom Organizations: Starbucks, Nike, Bank of America — Nike, UBS, Bank of America, CNBC, Brands, Bank, America's Locations: China, United States, Niccol, .
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