Santa Rally or Bust for Stocks?
As we round up the final month of 2023, many have been surprised by the resiliency of the stock market despite many calls for a recession over the past two years. In this week’s market update, we will review the factors that may be driving stock market resilience, along with what may be in store for the final month of the year. We will also discuss some of the risks, we see, faced by stock prices after a strong November.
Key Takeaways
- The market is overbought, but we think that is not necessarily a bad thing
- The market appears to be broadening out
- We think oil and banks are well-positioned for a value rotation
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