Stock-market bulls looking for a year-end rally are feeling encouraged as a four-day rally accompanied by retreating bond yields helps take the sting out of three-month retreat that sent the S&P 500 and Nasdaq Composite into market corrections.
“Halloween is over…it is conceivable here that the Santa Claus rally has already started simply because pessimism was so thick in September and October,” markets economist Ed Yardeni, president of Yardeni Research Inc., told MarketWatch Thursday.
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