Stock investors have had plenty to be thankful for this YEAR, with the S&P 500 up about 25%. But what about this WEEK? Will shorter-term traders have something to be thankful for, too?
Take a look at the MoneyShow Chart (Table, really) of the Week here, which shows what history has to say. The S&P 500 has risen 70% of the time on Thanksgiving week going back to 1950 – with an average gain of 0.64%.
Source: Schaeffer’s Investment Research, via Yahoo Finance
There won’t be any trading on Thursday, and the market only trades until 1 pm on Friday. But history suggests you can stuff your portfolio with profits this week, in addition to stuffing your stomach with turkey!
How about last year? Did things work out well? See for yourself below. The SPDR S&P 500 ETF Trust (SPY) rose 1% from Friday, Nov. 17, 2023 through Friday, Nov. 24, 2023.
Data by YCharts
We already started the week with a head of steam this year, courtesy of a Trump Treasury Secretary pick that Wall Street approves of. While geopolitical risks or higher-than-expected inflation data could throw a wrench in the works, Thanksgiving Week 2024 looks good so far.
The entire MoneyShow team and I wish you a very happy holiday!
