Monday Morning Must-Knows - December 23, 2024

Monday Morning Must-Knows by Trading Academy

December 23, 2024

Will Santa Rally Brighten Year-End Markets?

What a week in trading! Last week saw choppy, volatile markets with downside pressure—until Friday’s surprising Core PCE Price Index numbers showed a drop from 3% to 0.1%. Markets rallied, averting a deeper slide. However, looming uncertainties, like a potential government shutdown, kept tensions high. Fortunately, a last-minute deal extended funding temporarily, kicking the issue to 2025.

This week is quieter but still holds key data. Tuesday brings durable goods orders and new home sales, while Thursday features unemployment claims and crude oil inventories. Friday wraps up with wholesale inventories and natural gas storage reports. Holiday schedules mean markets close early Tuesday (1 PM ET) and fully on Wednesday.

Lastly, we approach the Santa Claus Rally—the historically strong market period during the last five days of December and first two of January. Liquidity will likely be low, with many traders taking time off. 

Wishing you a joyful holiday season from Trading Academy!

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