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'Santa rally' won't rekindle due to omicron risks and profit-taking, PNC Financial's CIO predicts
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cnbc.comPNC Financial is throwing cold water on the fourth-quarter rally.
Covid omicron fears will take a heavy toll on risk appetites over the next two weeks, according to Chief Investment Officer Amanda Agati.
«We've already gotten the Santa rally,» she told CNBC's "Trading Nation" on Monday. «We're seeing a little bit of investor fatigue here.»
The major indexes kicked off the week in the red. The S&P 500 is down 3% over the past three days. It's the index's worst three-day slide since September.
Meanwhile, the tech-heavy Nasdaq is down almost 4% in the same time span.
«In addition to the omicron fears and negative headlines swirling around, I think investors are kind of locking in some of those gains and ready to go on Christmas vacation,» she
Read more on cnbc.comAbout this in other media
Price analysis 12/24: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE cointelegraph.com /2 years ago
Christmas Eve trade slumps in British high streets over Omicron risk theguardian.com /2 years ago
‘Santa rally’ sees FTSE 100 hit 22-month high on Omicron optimism theguardian.com /2 years ago
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