Squawk on the Street SOTS 2nd Hour: RBC's Market Take, a "Once-In-A-Generation" Opportunity, & Retail's Holiday Winners/Losers 12/1/25
6 snips
Dec 1, 2025 
Joining the discussion are Lori Calvacina, Head of U.S. Equity Research at RBC, and Oliver Chen, a top retail analyst at Cowan. Lori breaks down RBC's four tiers of market sentiment, explores the implications of Bitcoin's volatility, and identifies sector trends for a constructive market outlook. Meanwhile, Oliver provides insights on the holiday retail landscape, discussing which retailers are thriving or struggling, along with the effects of inventory control and promotional strategies.
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Fanatics Personal Example
- Sara Eisen shared Fanatics' Black Friday data showing app sales rose 285% year‑over‑year.
- She used her kids' jersey purchases to illustrate the surge in sports merch demand.
RBC's 12‑Month Bull Case
- RBC sees a likely short-term pullback but forecasts a 12-month S&P target implying ~14% upside.
- Multiple models (valuation, Fed cuts, sentiment, earnings yield gap) support that median outlook.
Bitcoin As A Short‑Term Risk Barometer
- Bitcoin's weakness sits atop a list of near-term stress indicators for markets.
- Lori Calvacina flags crypto's slide as a signal that risk trades may face further drawdowns.