Investors hoped that a Santa Claus rally would come to town this week.
A Santa Claus rally may be coming to town as the year wraps up — or at least that was the hope this week. After what's been a gruesome year for stocks — the worst since 2008 — investors hoped for a little holiday miracle, or a rally into the end of 2022 to kick off 2023 on a positive note. Wall Street got the opposite. Stocks struggled this week as recession fears resurfaced, putting a damper on last hopes for a market uptick. The S & P 500 and Nasdaq Composite were last down 0.4% and 2.
Pro used FactSet data to screen for the stocks with the greatest week-to-date percentage changes as of Friday's open. These are some of the names that made the cut. Nike ruled as the best performer this week, with shares rising almost 10% after the sports apparel company topped analysts' expectations for the fiscal second-quarter . The company also showed progress as it works through its inventory glut exacerbated by supply chain disruptions.
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