US stocks (^DJI,^GSPC, ^IXIC) are under pressure on the final trading day of 2024. Commerce Street Capital CEO and president Dory Wiley joins Market Domination with Julie Hyman and Jared Blikre to discuss his read of the year-end selloff. Wiley says the equity dip is due to a combination of some profit-taking and portfolio rebalancing amid worries about fewer rate cuts in 2025. "I think this dip creates a buying opportunity," he says, explaining, "If we’re going to have a rally, it needs to be on earnings, and the stock market has it, and the Q4 should be pretty good." He says that though "we’ve got a rich stock market," with names like Nvidia (NVDA) driving the market, "the outlook is still very rosy for it." Watch the video above for more about Wiley’s expectations for the Federal Reserve in 2025 and his sector picks heading into the new year.
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