Santa Rally Illustrates Promising Year For Economy
We saw some records break this week on the floor of the New York Stock Exchange.
Traders put a holiday bounce in their step after analysts revised growth numbers for the third quarter.
Shari Burnum watches the markets closely. She’s the lead advisor for the Investor’s Resource team in Madison. It’s a Raymond James Financial Services office. She notes, “The economy is actually doing pretty well. We’re averaging an annual rate of growth over four-percent. That’s good, and so that’s really encouraging.”
The traders know that trounces the negative growth we saw in the recession.
Now granted, a lot of people don’t think of the economy in terms of stock prices, but when the people throwing around the big money see reason for hope, it tends to find its way to regular folk – through new jobs and opportunities.
Oddly enough, Washington also played a part in drumming up some end of the year excitement on Wall Street.
A budget deal feeds the frenzy.
Burnum adds, “A lot of the political decisions of late had everybody hoping. They’re expectant. Advent. It’s a season of expectation.”
Maybe the market’s upswing will help line your stocking with cash, but regardless, you should know progress for investors means times continue to get better for the country as a whole.
Around the markets, they call it the “Santa Claus Rally”, because the jollies spread.
Burnum says, “Is there hope? Sure. Is there expectation for forward growth? Yes. Is that a great thing to be happy about? Santa says yes.”
If markets can continue to chug along as if pulled by reindeer, many of us could see an even merrier Christmas next year.