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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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PNC 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.
Mea
Read more on cnbc.comAbout this in other media
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‘Santa rally’ sees FTSE 100 hit 22-month high on Omicron optimism theguardian.com /2 years ago
Bitcoin 'Santa rally' pauses at $51.5K as funds bet on a sub-$60K BTC price for January 2022 cointelegraph.com /2 years ago
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