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December 2024 has proven challenging for the stock market, with the Nasdaq experiencing a 2% decline, pulling down Wall Street in the last trading session of the holiday week. The McClellan Summation Index indicates a broader market downturn, as portfolio adjustments led to quick unwinds before year-end. The S&P 500 is down 1.6% for the month, with a notable number of sectors reporting declines of 5% or more. The Russell 2000 index has dropped 8% in December, approaching a 30-year low of 12% set in 2018. Analysts suggest that the poor performance in December could indicate a rough start for January 2025, as historical trends often correlate December's downturn with subsequent January struggles.
I’ve been talking about how bad December has been for almost all of the stock market outside the Mag 7. Here’s your proof. H/t @JackFarley96 https://t.co/IkQ4ouWcWH
The S&P 500 is currently off -1.6% in December, but under the hood it's a bloodbath. I would bet we can count on one hand, maybe only a few fingers, the number of months where 6 or more sectors fell -5% or worse with the S&P 500 not even down -2%. $spy https://t.co/gMCsUFsbLL
So much for December seasonality. Most #stockmarket indexes are down with the #Nasdaq the only one holding up, but for how long? 2 more days left in the year and at this rate that gain will be gone. The Russell is down 8% in December. The 30 year low was -12% in 2018. The… https://t.co/gymkNlbIYp
