The market is holding up, but economic data continues to come in with big misses.

The Leading Economic Index (LEI) contracted again in November at -0.5%. This is the 20^th consecutive month of contraction, fueling recession fears.

The non-financial component of the LEI dragged the index down the most with big hits from Consumer Expectations for business conditions and the ISM index of new orders.

The Kansas Fed Manufacturing Index came in at -4 in December from -3 in November.

Eight of the 11 S&P 500 sectors are trading up with Consumer Discretionary showing the largest gains.

The official Santa Claus rally starts tomorrow, maybe we should believe.