Welcome to Overtime I'm Mike Santoli in for Scott Wopner. You just heard the bells but we're just getting started

Just ahead we'll drill down on today's big move in energy after OPEC Plus

announced a major production cut what the move means for investors in the energy space.

But we begin with our talk of the tape.

Stocks are racing early losses to finish well off their lows of the day.

The move follows big back-to-back

gains for investors. The S&P 500 is up nearly 6% just this week. Our first

guest says if history is any guide, stocks could see even more upside ahead before pulling back in a big way

joining us now is Lori Kalvassein ahead of US equity strategy at RBC

capital markets Lori great to have you here. Thanks for having me.

It's great to be back.

Tell me what we can read into the last couple of days.

I mean, we know at minimum that, you know, technically markets were oversold,

we got this big snapback rally, things were washed out.

Is there anything else at play? In other words, market sniffing at anything about the Fed?

Did we reach anything in terms of valuation support you know with the

S&P at 3600 or is it all mechanical?

So look it's interesting you bring up valuation I've got a below

consensus earnings forecast for next year at 212 and when we do the math

there we were at 16.9 times on

Friday and that's right in line with the historical average in terms of a

forward PE so we actually said Friday you may have seen the door open up just a

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