{"id":216980,"date":"2025-01-06T09:30:00","date_gmt":"2025-01-06T14:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=216980"},"modified":"2025-01-07T03:36:10","modified_gmt":"2025-01-07T08:36:10","slug":"ready-to-keep-the-rebound-effort-going","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/","title":{"rendered":"Ready to keep the rebound effort going"},"content":{"rendered":"\n<p>The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this year. Notably, the S&amp;P 500 closed a whisker shy of its 50-day moving average.<\/p>\n\n\n\n<p>Based on the activity in the equity futures market, the S&amp;P 500 will be looking down on that key technical level when trading begins. Currently, the S&amp;P 500 futures are up 45 points and are trading 0.8% above fair value, the Nasdaq 100 futures are up 231 points and are trading 1.1% above fair value, and the Dow Jones Industrial Average futures are up 234 points and are trading 0.5% above fair value.<\/p>\n\n\n\n<p>Several variables are behind this positive bias:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>There is tax policy enthusiasm with President-elect Trump pushing for the passage of a single reconciliation bill that would include extending the 2017 tax cuts. According to\u00a0<em>Politico<\/em>, Speaker Johnson (R-LA) said it is his goal to have that bill passed into law by the end of April.<\/li>\n\n\n\n<li>There is AI enthusiasm after Foxconn reported a 15% yr\/yr increase in record Q4 revenues.<\/li>\n\n\n\n<li>Mega-cap stocks are trading higher and there is some fear of missing out on further gains there.<\/li>\n\n\n\n<li>Global growth prospects got a boost following the report of better-than-expected final Services PMI readings for December out of China and Europe.<\/li>\n\n\n\n<li>The U.S. dollar is losing steam in a counter-trend trade from an overbought condition, taking a little pressure off the multinational stocks whose earnings prospects are challenged by a stronger dollar. The U.S. Dollar Index is down 0.9% to 107.98.<\/li>\n<\/ul>\n\n\n\n<p>The Treasury market so far doesn&#8217;t appear to be getting in the way of the equity rally effort, but participants will be keeping a close eye on the action there, which can be described as a bit squirrelly today.<\/p>\n\n\n\n<p>Yields pressed higher overnight, but then recovered in the wake of some encouraging Services PMI readings out of Europe and press reports that Trump aides are exploring a universal tariff for critical imports. One might think the opposite would occur (i.e., yields going up) after those items. Currently, yields are little changed across the curve from Friday&#8217;s settlement, yet they are off their lows of the morning.<\/p>\n\n\n\n<p>The 2-yr note yield is down one basis point to 4.27% and the 10-yr note yield is up one basis point to 4.61%.<\/p>\n\n\n\n<p>This will be a big week for the Treasury market, which will also be asked to digest a $58 billion 3-yr note auction today, a $39 billion 10-yr note reopening on Tuesday, and a $22 billion 30-yr bond reopening on Wednesday alongside the December ISM Services PMI on Tuesday and the December Employment Situation Report on Friday.<\/p>\n\n\n\n<p>The thrust of the equity market&#8217;s rebound effort will likely ultimately rest on the thrust &#8212; or lack thereof from this point &#8212; in Treasury yields.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted January 6, 2025 &#8211; <a href=\"https:\/\/www.briefing.com\/page-one\">Ready to keep the rebound effort going<\/a><\/p>\n\n\n\n<p><em>(Editor&#8217;s note: original comment has been corrected to indicate the 10-yr note reopening will be Tuesday and the 30-yr bond reopening will be Wednesday)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this year. Notably, the S&amp;P 500 closed a whisker shy of its 50-day moving average.<\/p>\n","protected":false},"author":60,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[4,5,18,6,8,9,26,3],"tags":[],"contributors-categories":[13589],"class_list":{"0":"post-216980","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia","7":"category-europe-middle-east-africa","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"contributors-categories-briefing-com"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ready to keep the rebound effort going | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/216980\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ready to keep the rebound effort going | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this year. Notably, the S&amp;P 500 closed a whisker shy of its 50-day moving average.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-06T14:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-07T08:36:10+00:00\" \/>\n<meta name=\"author\" content=\"Patrick J. O\u2019Hare\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick J. O\u2019Hare\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Patrick J. O\u2019Hare\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/471100aa2d58a5f0ab685bbd889b3ebb\"\n\t            },\n\t            \"headline\": \"Ready to keep the rebound effort going\",\n\t            \"datePublished\": \"2025-01-06T14:30:00+00:00\",\n\t            \"dateModified\": \"2025-01-07T08:36:10+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/\"\n\t            },\n\t            \"wordCount\": 511,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"articleSection\": [\n\t                \"Asia Pacific\",\n\t                \"Europe, the Middle East and Africa\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/\",\n\t            \"name\": \"Ready to keep the rebound effort going | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"datePublished\": \"2025-01-06T14:30:00+00:00\",\n\t            \"dateModified\": \"2025-01-07T08:36:10+00:00\",\n\t            \"description\": \"The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this year. Notably, the S&P 500 closed a whisker shy of its 50-day moving average.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/ready-to-keep-the-rebound-effort-going\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/471100aa2d58a5f0ab685bbd889b3ebb\",\n\t            \"name\": \"Patrick J. O\u2019Hare\",\n\t            \"description\": \"Patrick has been with Briefing.com since 1997 and authors the Page One, The Big Picture, Fed Brief, and Market View columns. He also provides commentary on Live In Play.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/www.briefing.com\\\/\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/patrick-j-o-hare\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ready to keep the rebound effort going | Traders' Insight","description":"The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/216980\/","og_locale":"en_US","og_type":"article","og_title":"Ready to keep the rebound effort going | IBKR Campus US","og_description":"The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this year. Notably, the S&P 500 closed a whisker shy of its 50-day moving average.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/","og_site_name":"IBKR Campus US","article_published_time":"2025-01-06T14:30:00+00:00","article_modified_time":"2025-01-07T08:36:10+00:00","author":"Patrick J. O\u2019Hare","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Patrick J. O\u2019Hare","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/"},"author":{"name":"Patrick J. O\u2019Hare","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/471100aa2d58a5f0ab685bbd889b3ebb"},"headline":"Ready to keep the rebound effort going","datePublished":"2025-01-06T14:30:00+00:00","dateModified":"2025-01-07T08:36:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/"},"wordCount":511,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"articleSection":["Asia Pacific","Europe, the Middle East and Africa","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/","name":"Ready to keep the rebound effort going | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"datePublished":"2025-01-06T14:30:00+00:00","dateModified":"2025-01-07T08:36:10+00:00","description":"The stock market enjoyed a broad-based advance on Friday, rebounding from a recent bout of selling pressure that sent the Santa Claus Rally packing this year. Notably, the S&P 500 closed a whisker shy of its 50-day moving average.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/ready-to-keep-the-rebound-effort-going\/"]}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/471100aa2d58a5f0ab685bbd889b3ebb","name":"Patrick J. O\u2019Hare","description":"Patrick has been with Briefing.com since 1997 and authors the Page One, The Big Picture, Fed Brief, and Market View columns. He also provides commentary on Live In Play.","sameAs":["https:\/\/www.briefing.com\/"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/patrick-j-o-hare\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/216980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=216980"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/216980\/revisions"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=216980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=216980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=216980"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=216980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}