Investors have plenty to be thankful for this Thanksgiving.
Furthermore, the trend will continue beyond Thanksgiving, one strategist says.
Stock investors have plenty to be thankful for this year.
The major indices are sitting at record highs. And Boris Schlossberg, managing director of foreign exchange at BK Asset Management, points out that seasonally, this is a positive time for stocks.
“Thanksgiving week seems to be a very kind week for investors,” Schlossberg said. He has cited data from the Stock Trader’s Almanac. Specifically, the markets have risen in 34 of the past 35 years during the week of Turkey Day.
Meanwhile, it appears that global fundamentals have improved, which has supported risk assets such as stocks.