At Goldman and Citadel Securities, the Santa Rally Has Believers

If history is any guide, stocks will keep pushing higher: Since 1928, the S&P 500 has risen 75% of the time in the last two weeks of December, rising 1.3% on average, data compiled by Citadel Securities show. While longer-term worries about the artificial-intelligence trade linger and valuations remain stretched, optimism over a strong economy and corporate profits is keeping investor sentiment upbeat. Traders are snapping up bullish options on chipmakers and large-cap technology shares, according to Susquehanna International Group, while the retail crowd remains avid buyers of US stocks.