David Faber, Leslie Picker and Mike Santoli discussed the latest for stocks as a potential Santa Claus rally stalls out – with a slew of consumer and big tech names under pressure an hour into trade. Strategists from Citi and Invesco broke down their bull and bear cases for 2025, with the team also focusing in on the future for Chinese equities under president-elect Trump. Plus: Apple $4T watch, a look at 2024’s “rise of the dupes”, and one warning sign flashing for financials.

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