As US stocks (^DJI, ^IXIC, ^GSPC) continue to run to record highs with just weeks left in 2024, is it all a positive picture for markets heading into 2025 or are there still some risks ahead in the new year?

HSBC Chief Multi-Asset Strategist Max Kettner joins Madison Mills and Brad Smith to talk about areas of the market he is expecting to see more upside in while focusing on where some of the bigger economic risks lie.

"I would look at things like supercore inflation now, supercore is, of course, the Fed's [Federal Reserve] preferred measure of underlying inflation," Kettner says. "It's sort of the most narrow definition of underlying inflation that however, is more likely going to decline in the first half of next year, particularly the first four months, mostly because we had these incredibly high readings in the first four months this year."

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This post was written by Luke Carberry Mogan.