The Dow Jones Industrial Average is experiencing a nine-day losing streak, mirroring a similar streak in 1978. Investors await the Federal Reserve's decision on interest rates today, hoping for a Santa Rally.
Investors await the Fed eral Reserve's decision on interest rates today, with markets hoping for a Santa Rally . The Dow Jones Industrial Average is currently experiencing its ninth consecutive day of losses, mirroring a similar streak in 1978 when the Bee Gees' song 'Stayin' Alive' was the top Billboard hit. Banking stocks have been a major drag on the Dow, declining 1.4%, while European tech stocks have bucked the trend, rising 0.61%.
Only 63% of economists, strategists, and fund managers surveyed believe the Fed's move is the right one. Outside the Dow, the stock market remains positive. The S&P and Nasdaq are near record highs, indicating that the Dow's decline is primarily driven by 'old-economy' stocks. TradeStation's David Russell suggests that 'Wall Street is waking up to the fact that a Trump presidency might not be as great for stocks as some people hoped.'
FED DOW JONES SANTA RALLY STOCK MARKET TRUMP
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