Santa Claus Rally Remains Elusive

   2022-12-27 04:12

  • US stocks finished mixed to begin the final week of trading for 2022 as the so-called Santa Claus rally failed to materialize.
  • The weakness came despite fresh signs that China is further shedding its zero-COVID policies.
  • Tesla stock fell as the EV maker extended the slowdown of its Shanghai factory through January, according to Reuters.

US stocks finished mixed to begin the final week of trading for 2022 as the so-called Santa Claus rally that typically closes out each year failed to materialize.

The weakness came despite fresh signs that China is further shedding its zero-COVID policies. Beijing announced Monday that starting on January 8, inbound travellers will no longer face quarantine requirements. Still, China faces a massive spike in infections.  

Russian President Vladimir Putin banned oil sales to countries participating the West’s price cap, after the Kremlin’s finance minister said it is hurting Moscow’s export revenue

Here’s where US indexes stood as the market closed at 4 p.m. on Tuesday: 

Here’s what else is going on: 

In commodities, bonds, and crypto: 


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