The Santa Clause Rally

While spending an interesting week in an advanced futures trading class, we noticed an uptrend in the market (indexes).  The markets frequently rally at this time of year, or the so-called Santa Clause Rally. This week was no different.

U.S. stocks notched another record setting day, as the Santa Claus rally continues. It was more mixed internationally in equity markets. U.S. Treasury yields fell slightly, but the Dollar Index was higher, courtesy of a larger drop in European yields and continued uncertainty surrounding Brexit. Gold and oil were lower. Personal Income topped estimates with Personal Spending matching expectations. University of Michigan Consumer Sentiment hit a one and a half year high. Nike posted upbeat quarterly results, but disappointing margins pressured shares of the athletic and apparel maker, while shares CarMax fell after results fell short of estimates. For the week, the major indexes advanced solidly led by the Nasdaq’s 2.2% gain.

State Tax Changes as of Jan 1, 2020

Thirty-four states have major taxes changes taking place on Jan 1, 2020.

You can view the details here:

State Tax Changes as of January 1, 2020