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“An end is only a beginning in disguise.” – Craig D. Lounsbrough
Futures are indicated higher this morning as European equities rally on a plan for a rollout of the COVID vaccine in that region. French President Macron announced that he will be self-isolating due to a positive test for COVID, and as a result, several other EU leaders announced plans to self-isolate after coming into contact with Macron in recent days.
Just-released economic data was mixed with Housing Starts and Building Permits topping expectations, Philly Fed missing forecasts, Initial Jobless Claims higher than expected while Continuing Claims were lower than expected.
Be sure to check out today’s Morning Lineup for updates on the latest market news and events, a recap of economic data out of Asia and Europe, an update on the latest national and international COVID trends, and much more.
In what to many seems like the year that would never end, just ten trading days remain in 2020. We’ve mentioned in the past how the month of December has typically been back-end loaded, and that is also evident in a look at the S&P 500’s performance during the last ten trading days of the year. Going back to 1945, the last ten trading days have experienced a median gain of 0.93% with positive returns 73% of the time. Performance in the last ten years has been similar with a median gain of 1.04% and gains 70% of the time.