CNBC's "Fast Money" Stocks Sell Off As Santa Claus Rally Fades… And 2024’s Winners & Losers 12/27/24
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Dec 27, 2024 Markets are currently experiencing a sell-off, raising concerns about a challenging start to the new year. The discussion highlights strategies for navigating 2024's potential winners and losers, with a focus on portfolio diversification. Mergers and acquisitions are also on the radar, particularly for financial institutions. There's analysis on the evolving landscape of gas and oil prices, and the surge in options trading is making waves, especially around MAG-7 stocks. Traders share insights and picks as they gear up for year-end challenges.
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Momentum Trade Slowdown
- Momentum stocks like Palantir, Vistra Energy, and NVIDIA saw significant losses.
- This raises questions about whether it's profit-taking or a sign of increased volatility in 2025.
Post-Election Rally
- The market rallied significantly after the election, with Bitcoin up 35%.
- Steve Grasso suggests this might have pulled forward the typical January rally.
Market Breadth and MAG-7
- The market's post-election breadth quickly reversed, returning focus to the 'MAG-7'.
- Courtney Garcia anticipates higher rates and profit-taking in these large-cap tech stocks.