As traders enter the final trading week of the year, one familiar question dominates Wall Street chatter: Will the Santa Claus Rally show up again?

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History says the odds are favorable. The U.S. stock market has delivered consistent gains in the final stretch of December, typically defined as the period between Dec. 23 and Dec. 31.

According to Seasonax data, the S&P 500 has risen an average 0.95% during the last trading week of the year across 95 years of history.

The index finished that week higher in 69 instances, translating into a 71% win rate. The strongest Santa Claus Rally for the S&P 500 came in 2018, when the index surged 6.28% between Dec. 24 and Dec. 31.

Seasonal strength looks even better for the Dow Jones Industrial Average.

Using 128 years of data, the Dow has posted an average gain of 1.06% in the final trading week of the year. It finished higher 92 times, delivering a 77% winning rate.

The Dow's strongest ...