LIVE MARKETS-Main US indexes strive to rise for a sixth-straight day

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MAIN US INDEXES STRIVE TO RISE FOR A SIXTH-STRAIGHT DAY

Wall Street's main indexes are all around flat in post-Christmas trading on Friday, while investors bet that more interest rate cuts and strong corporate earnings would propel markets to fresh highs next year. The benchmark S&P 500 .SPX and the blue-chip Dow Jones Industrial Average .DJI closed at record highs on Wednesday, capping a broad rally in a holiday-shortened session.

Bespoke Investment Group is noting that volatility on the day after Christmas has been below average with an average daily move of 0.61%, but it still tends to be the most volatile day of the year between Christmas and the end of the year.

Bespoke adds that "The least volatile day of the week and the year, for that matter, is December 28th (0.40%). 12/28 falls on Sunday this year, but volatility on every day of the post-Christmas period is below the overall average. For December, volatility has been below average on 73% of all trading days, and the only month with more below average volatility days is July (80%). Conversely, October has the highest percentage of above average volatility days (87%)."

In any event, on Friday, the main indexes are all attempting to rise for a sixth day in a row.

The S&P 500 last rose more than five days in a row with a seven-day winning streak that ended on October 6. The Dow last gained for more than five straight days with a six-day winning streak that ended on October 3. The Nasdaq .IXIC last rose more than five days in a row with a six-day winning streak that concluded on September 15.

Shortly after 10 a.m. ET, S&P 500 sectors are mixed with relatively subdued changes. No one sector is posting an absolute change of more than 0.37%.

Here is a snapshot of where markets stood at 10:04 a.m. ET.

(Terence Gabriel)

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