Kim Kahn

Historically, the S&P 500 has been higher 77% of the time during the Santa rally, according to Subutrade.

They note that the last two years were negative, but there's never been a third straight down Santa rally time.

Alexander Giuliano, CIO at Resident Wealth Partners, says despite choppy trading over the past six weeks, the backdrop remains strong and the recent valuation pullback is creating opportunities for underinvested bulls.

So far in December, the S&P is slightly lower, the NASDAQ is down about 0.25%, and the Dow is up 1%.

For the year, the S&P is up 16%, the NASDAQ 21%, and the Dow 13%.

The earnings calendar is light, but traders won't be bored.

The key data point is the Q3 GDP report on Tuesday.

Wells Fargo says while the headline number may be stale, the details matter.

They're expecting 3.6% annualized growth, boosted by a pullback in imports.

Consumers rebounded strongly in the second half of the year, though construction remains a drag.

In the news this weekend, Bill Ackman floated a novel idea for taking SpaceX public, pitching a merger with Pershing Square Spark that would distribute special investment rights to Tesla shareholders, giving them first crack at a SpaceX IPO, or the option to sell those rights.

Ackman called it a way to democratize the IPO process.

Out west, power was restored to most of San Francisco late Saturday after a major outage.

Roughly 130,000 customers lost service at the peak, with most restored by late evening.

For income investors, Broadcom and Vistra Energy go ex-dividend on Monday.

Both pay out on New Year's Eve.

Altria and Philip Morris go ex-dividend on Friday.

Altria pays out on January 9th, while Philip Morris has a January 14th payout date.

In the Wall Street Research corner, J.P.

Morgan picked 11 standout tech stocks for 2026.