Stock futures rise heading into the final trading week of 2022

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Traders are at work on the floor of the New York Stock Exchange (NYSE) on November 29, 2022.

Brendan McDiarmid | Reuters

U.S. stock futures rose Tuesday morning as investors headed into the final trading day of 2022 and a Santa Claus rally appeared to weigh whether to lift a market weighed down by recession fears.

Dow Jones Industrial Average futures rose 154 points (0.46%). S&P 500 and Nasdaq 100 futures were up 0.63% and 0.75% respectively.

During Friday’s regular session, the Dow Jones Industrial Average closed 176 points, or 0.5% higher. The S&P 500 has him up 0.6% and the Nasdaq Composite has him up 0.2%.

Friday marked the start of the Santa Claus rally period, usually considered the last five trading days of the year and the first two trading days of the new year. The market is closed on Mondays for the Christmas holidays.

With lower trading volumes, investors expect a relatively quieter or more volatile week in the shortened holiday week. Markets are closing out a month and year defined by rising recession fears.

The S&P 500 fell about 5.8% in December, while the Dow and Nasdaq were down about 4% and 8.5% respectively. These are the biggest monthly declines since September. Leading averages are headed for their worst annual performance since 2008.

“[The] Quincy Crosby, chief global strategist at LPL Financial, wrote on Friday, “And the answer will largely depend on how much the Fed needs to raise rates to finally tackle sticky inflation. It will be decided.”

On the economic side, traders are expecting the latest data on November wholesale inventories and October S&P/Case-Shiller home prices before the bell on Tuesday.

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