Investors are still sitting on a more than 25% gain for the year, and it’s arguable that the frenzied postelection bump pulled forward some of December’s typical gains. Nonetheless, the month’s anemic showing is atypical.

Santa Claus rally’ is here — but can the stock market avoid the ‘Grinch pinch’? The S&P 500 Index SPX is attempting to erase the swift decline that occurred after the U.S. Federal Reserve’s December meeting.

The Dow closed slightly higher on Thursday while the Nasdaq and S&P 500 closed lower in the second day of a so-called Santa Claus rally period.