Fed to Make First Rate Hike in July: PNC

The video discusses the resilience of US equities despite global market challenges, highlighting the strength of small caps and the divergence between the US and global economies. It reviews surprises from 2014, such as falling oil prices and bond yields, and provides an outlook for 2015, including predictions on interest rate hikes by the Fed. The focus is on the strong dollar and its impact on US markets, with a look at the political climate and potential market impacts. December market trends, including the possibility of a Santa Claus rally, are also discussed.

What should investors be cautious about in 2015 according to the discussion?

What are the potential implications of a strong dollar on the market?