Santa Claus is coming …
- Jarosław Jamka
- 20 paź
- 1 minut(y) czytania
Seasonality and AI favor equity markets toward year‑end...
Goldman Sachs:
- The average S&P 500 return from October 20 to December 31 is +4.16% since 1928;
- The average NDX return from October 20 to December 31 is +8.48% since 1985.
Figure 1 shows returns for the Nasdaq‑100 up to October 20 of each calendar year; in 2025 this is already +19.65%.
Since 2009, the October 20–December 31 period produced positive results in every year except 2018. The average return for 2009–2024 over that window is +4.39%, rising to +5.41% when 2018 is excluded.
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