Stock Market Gains On PCE Inflation Data; Is The Stage Set For A Santa Claus Rally?

Stock Market Gains On PCE Inflation Data; Is The Stage Set For A Santa Claus Rally?

The stock market finished a bruising week with a flourish Friday following a benevolent inflation reading, setting the stage for a possible Santa Claus rally. The Nasdaq composite ended the day well off session highs, but still gained 1%. While it closed back above the 21-day exponential moving average it suffered a weekly decline of 1.8%. The tech-heavy index retains…

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