Aptus Capital Advisors portfolio manager David Wagner joins Julie Hyman and Madison Mills on Market Domination to discuss his market outlook for 2025.

“The path of least resistance is going to continue to be higher for the market,” Wagner tells Yahoo Finance. He notes, “The market has seen a little bit of pullback over the past few days, but from a seasonality perspective, that tends to be normal toward the end of November,” adding that in election years, the “Santa Claus rally doesn’t just continue to Christmas, it actually continues after Christmas.”

“We have a lot of structural forces behind the market that’s going to be continuing to push it higher,” the portfolio manager adds, highlighting the Federal Reserve’s ongoing easing cycle and President-elect Donald Trump’s second term in office as growth drivers.

Wagner says, “There’s a lot of policies in Washington, D.C., that could create some type of emotional chop [to the market], though I do think that DC is going to actually try to navigate that turbulence pretty well because no matter what the amount of liquidity coming into the market from a fiscal and monetary standpoint, it’s really just not slowing down in the interim.”

To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

This post was written by Naomi Buchanan.