I:RUT Mar 2024 1930.000 call

Turkey rally likely to offset chances of Santa Claus rally

On the heels of a Thanksgiving-timed “Turkey Rally,” PNC Asset Management CIO Amanda Agati says markets have reached a “crossroads” in determining the next catalysts to push them higher. Despite stocks rebounding off correction lows without further Fed tightening recently, she struggles to identify any "meaningful positives" and "meaningful negative" catalysts within the market, telling Yahoo Finance: "I think what's interesting at this point is what is the catalyst to kind of keep this market rally going?" Agati believes this market uncertainty leaves investors in a holding pattern. Agati notes if the Fed maintains its current policy stance, markets may remain “directionless” to close 2023. With a recession still a potential risk, Agati advises investors to "stay close to long-term strategic targets" and let the new year shake out before making significant positioning changes. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.