Here are 2 things we're watching in the stock market this week

Investors are heading into this Christmas-shortened trading week focusing on two things. Will Santa Claus come to Wall Street? What do holiday shoppers think about the economy? Last week was the last full trading week of 2025 and it was a volatile week. AI trading has had its ups and downs, and the market has been hit by mixed monthly jobs data and tepid consumer inflation. When all was said and done, the S&P 500 rose 0.1% last week but remained slightly in the red during the otherwise seasonally strong December. As of last Friday's close, the index was up 16.2% year to date. The US stock market closes early at 1pm ET on Wednesday, Christmas Eve, and closes completely on Christmas Day. 1. Is there a Santa rally this year? Whether December can deliver a monthly increase and how much the S&P 500 rises in 2025 depends on the so-called Santa Claus Rally, which is marked by the last five trading days of the year and the first two trading days of the new year. This time, December 24, 26, 29, 30 and 31, followed by January 2 and January 5. Since 1950, the S&P 500 has averaged a 1.3% gain over that seven-session period. Yale Hirsch, founder of Stock Trader's Almanac, came up with the idea of a Santa Claus rally in 1972. His son, Jeffrey Hirsch, editor-in-chief of the Almanac, told CNBC Pro in an interview that the decline this time would be a warning. "This isn't, 'We're going to get into a bear market.' It's a flag to start looking at other data." [to see if] Maybe something's wrong." 2. Are shoppers more confident? The last check on how consumers feel about the economy wasn't good. The Conference Board's consumer confidence index fell in November to its lowest value since April. Respondents to the monthly survey said last month they were worried about the job market and inflation, which is a dual mandate of the Federal Reserve. Consumer confidence data for December, due out at 10 a.m. ET on Tuesday, comes after the government said last week it was worried about non-farm sectors. Last month, the unemployment rate increased in November, following a decline in October. Last week's inflation chart showed improvement, with the government reporting a lower-than-expected year-on-year increase in the November consumer price index. Note: There will be no Morning Meeting on Wednesday, December 24 and Friday, December 23. 08:30 ET: GDP (3rd quarter first reading) 08:30 ET: Durable goods orders (October) 09:15 ET: Industrial production (October). and November) 10 a.m. ET: Consumer Confidence (December) Wednesday, Dec. 24 8:30 a.m. ET: Weekly unemployment claims Thursday, Dec. 25 The stock market is closed for Christmas Day (For a complete list of stocks in Jim Cramer's Charitable Trust, see here; CNBC Investment Club.) By subscribing to the CNBC Investment Club with Jim Cramer, you will receive a trade alert before Jim buys or sells a stock in his charitable trust's portfolio. waits 45 minutes after sending a trade alert before selling. If Jim talked about a stock on CNBC TV, he waits 72 hours after sending the trade alert before executing the trade. NO OBLIGATION OR DUTY EXISTS OR IS GUARANTEED A PARTICULAR RESULT OR PROFIT.