This year's Santa Claus rally isn't an indication of next year's performance, says Quincy Krosby
28 Dec 2023 (over 1 year ago)
- The speaker believes that the Santa Claus rally is not indicative of what to expect in 2024.
- A broad rally is seen as a positive sign for the market in the next year.
- The energy sector has been outperforming since the Fed's dovish pause in mid-December.
- Catalysts for the energy sector include geopolitical risk, a stronger economy, and the U.S. government replenishing the strategic petroleum reserve.
- According to a survey, the top areas for investment in 2024 are financial stocks, high dividend stocks, healthcare stocks, mega-cap stocks, and energy and consumer discretionary.
- The speaker predicts that large-cap growth names in the S&P 500 will do well in 2024, especially if the Fed cuts rates.
