Tags: JPMorgan | Thanksgiving | Stock | Rally

JPMorgan: Thanksgiving Rally May Last Rest of Year

Friday, 18 Nov 2011 08:47 AM

Stocks tend to rally between Thanksgiving and New Year's Eve, and this year will probably see the same, according to JPMorgan analyst Marco Dion.

On average, the Dow Jones Industrial Average returns 1.9 percent during this period at the end of the year and posts positive returns 79 percent of the time, Dion finds, according to Business Insider.

Furthermore, when the Dow is positive for the year up to Thanksgiving, it returns 3.4 percent on average with positive returns 82 percent of the time.
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Volatility has sent the Down in positive territory for the year in recent trading, although sell offs often threaten to push it back into the red.

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(Getty Images photo)
"We find indices around the world generate positive returns during this end of year rally with incredible consistency through history," Dion writes.

Stocks have taken a roller coaster ride this year, stemming from the debt-ceiling impasse in the United States last August as well as default fears in Southern Europe.

Fears that Europe is headed for financial crises continue to rattle nerves, especially now that the focus of the issue is switching from Greece to larger Italy and Spain.

"It seems like U.S. markets want to decouple a bit from the European scenario, but I can't see that it's going to decouple any time soon," says Will Hedden, sales trader at IG Markets.

"They can't get away from the eurozone issue — that was evident with the huge drop in jobless claims numbers in the U.S. not even being able to help."

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Stocks tend to rally between Thanksgiving and New Year's Eve, and this year will probably see the same, according to JPMorgan analyst Marco Dion. On average, the Dow Jones Industrial Average returns 1.9 percent during this period at the end of the year and posts positive...
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