The shortened US equity market session on Christmas Eve is often a formality but Santa Claus delivered this year. The 0.7% rally yesterday in the S&P 500 was followed with 0.8% today and the post-Fed rout has now been largely erased.

• S&P 500 +1.1%
• Nasdaq Comp +1.4% (led by +6% for TSLA)
• Russell 2000 +0.8%
• DJIA +0.9%
• Toronto TSX Comp +0.3%

US and Canadian markets are both completely closed on Christmas. The US market will re-open on Boxing Day while Canadian markets remain closed until December 27.

The ‘Santa Claus rally’ period is traditionally after Christmas and before new years, so we have that to look forward to.

This article was written by Adam Button at www.forexlive.com.