Yes, Christmas does have an impact on the stock market because for year those who tout consumerism have been brain washing the American public to spend out of control, especially during the end of the year in the interest of Christmas. Since we spend everything we have it eventually ends up in shareholders pockets and makes the income gap even worse.
As we can see that in Christmas stock market go at a high level, and if we invest something we'll get a better solution ahead. Christmas has a very good impact in stock market, and we have to invest as much as possible in stock market as we can get a better solution ahead.
People spend so much money on Christmas, people put themselves in huge debts over this holiday. It really is insane, but I bet it has a huge impact on the stock market, there is no way the economy does not benefit in a big way from all the holiday shopping and spending.
Christmas itself only has a very minimal effect on the stock market. However, as Christmas comes at the very end of the year it coincides with the time that many traders choose to sell stocks that they haven't had much recoup from in the past year. The link between this and Christmas is purely coincidental.