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Investors hope for 'Santa Claus' rally as stocks lose steam

The benchmark S&P 500 is up more than 23% for 2024, even after a major stumble this week, and Wall Street has historically often enjoyed a strong annual close. Since 1969, the last five trading days of the year combined with the first two of the following year have yielded an average S&P 500 gain of 1.3%, a period known as the "Santa Claus Rally," according to the Stock Trader's Almanac. But this year, there are signs Santa Claus may disappoint.

US stock futures pare losses after inflation data, Trump targets Europe

LONDON (Reuters) -U.S. stock index futures pared some declines on Friday after data showed inflation in the world's largest economy cooled slightly last month, while European shares came under fire after Donald Trump's latest threat to impose tariffs. U.S. Treasury yields also fell, with the benchmark 10-year yield sliding 6.6 basis points (bps) to 4.504%. U.S. stock futures were down 0.6-0.8%, indicating Wall Street was set to open lower, but that compared to declines of 0.8-1.3% earlier in the day.