Reported 3 days ago
On the last trading day of 2024, US stocks are experiencing a downturn, with Commerce Street Capital's Dory Wiley suggesting that this dip presents a favorable buying opportunity. He attributes the selloff to profit-taking and portfolio rebalancing, driven by concerns over potential rate cuts in 2025. Despite the high valuations in the stock market, Wiley remains optimistic about earnings and the outlook for stocks like Nvidia, encouraging investors to consider the potential for a rally in the new year.
Source: YAHOO