Good morning!

As we welcome the New Year, I want to extend my heartfelt best wishes for a happy and prosperous 2025. Our commitment to providing our clients with exceptional service and innovative financial solutions remains unwavering. We would love an opportunity to count you as part of our MIramontes family in 2025.



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2024 closes out with another mid-week holiday for the markets and a dearth of important economic news and reports. Here's what's happening...

• The "Santa Claus" rally in the markets this year has been disappointing, as stocks fell Monday, with the woes of the three major indexes continuing in the final week of the year as an otherwise strong 2024 comes to a close. Since 1950, the seven-day stretch beginning December 24 has seen a rise of 1.3% in the S&P 500, well above the typical weekly average of 0.3%. With just one more day of trading left in 2024, markets are hoping to recapture the momentum of this year's gains, and--surprise!--it looks like that may be happening: the S&P 500 likely capped its best annual gain in three years this morning, powered by outsized gains for mega-cap tech stocks. The benchmark S&P is up over 25% in 2024, while the Nasdaq has increased over 30%. The blue-chip Dow has risen a more modest 14%. *

• There's still a chance your local Big Lots will keep the lights on after all. The discount chain said Friday that it had reached a deal with Gordon Brothers Retail Partners that would preserve at least 200 stores across the US, with the possibility of raising that number to 400 locations. If the deal is approved, the remaining Big Lots stores and brand would be transferred to Variety Wholesalers, a privately held owner of more than 400 discount stores across the southeast and mid-Atlantic.

• The New York Stock Exchange and Nasdaq will close on Thursday, January 9 to honor a national day of mourning for former President Jimmy Carter. The bond market will also close early at 2:00 p.m. ET, following the recommendation of the Securities Industry and Financial Markets Association. This follows the tradition of closing markets to honor the passing of a president, as was last done in December 2018 for George Herbert Walker Bush. *** 

The financial advisors at Miramontes Capital diligently keep up with anything that can impact our clients' finances and tap into more than 175 years of combined investment experience. We do our all to keep your money protected and growing. If you think you might benefit from our financial experience and oversight, contact us today for a FREE, no-obligation consultation. Just call (800) 460-1595. Until next week...

Investment Advisory Services offered through Miramontes Capital, LLC. Securities offered through Balanced Security Planning, Inc. Member FINRA/SIPC. Miramontes Capital, LLC and Balanced Security Planning, Inc. are separate companies affiliated through common control. This newsletter is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Miramontes Capital, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital, LLC unless a client service agreement is in place.