TSX moves higher as markets enjoy so-called Santa Claus rally ahead of year's end

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The so-called 'Santa Claus rally' was in effect Wednesday, as Canada's main stock index closed higher on the first day of trading since the Christmas holiday.

A man walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Wednesday, Dec. 29, 2021, in Tokyo.

Colin Cieszynski, chief market strategist at SIA Wealth Management, said that appears to be what's happening this year, as the S&P/TSX has posted a solid streak of gains over the last five trading sessions. Canada's main stock index may also have been playing a little bit of catch-up Wednesday, as U.S. markets climbed earlier in the week when Canadian markets were closed for the Christmas break, he said.

"These have generally been seen as positives by the market," he said. "The market I think has the sense that they are not going to go into the full-blown lockdowns of the past, but are actually trying to manage through this by trying to keep things open somewhat."

 

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Thanks for reporting the good news -- now I can upgrade my order of pizza to extra large with full topping. Lol

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