30 Dec Dunkin Allison Discusses the Holiday Stock Week with Bloomberg
In the days leading up to Christmas, U.S. stocks reached record highs while trading was light. The Dow Jones surged during the start of the holiday week and the S&P 500 increased for the eighth time in nine trading sessions to another record high. Furthermore, ten-year treasury yields rose to 1.93%, 16 basis points higher than yields at the beginning of December. All this occurred while trading volume fell more than 20% below its 100-day average.
What are the reasons behind all of this? Bloomberg spoke with Delegate Director of Portfolio Management Dunkin Allison to find out.
“It’s a combination of low volume but also the fact that you’ve seen some progress with China, and it’s really causing the bulls to jump in here,” explains Allison. “We don’t see a lot of selling pressure today.”