JPMorgan Private Bank Bullish on Cyclical Stocks

Wednesday, 27 Aug 2014 07:02 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
JPMorgan Private Bank believes in a strengthening economy, and hence it believes in cyclical stocks, says Chief Investment Strategist Kate Moore.

"We're still very cyclically-biased in all of our portfolios," she told CNBC. "There have been months this year that it has not been the best play, but we feel very confident in the U.S. recovery."

The economy grew 4 percent in the second quarter.

Editor’s Note: Get These 4 Stocks Before 399% Stock Market Rally!

And what sectors does JPMorgan like? Financial services, technology and energy, Moore said. "And as a kind of counterbalance, we've been owning a lot of health care."

The KBW Bank stock Index has returned 16.9 percent over the past year, compared to 25.2 percent for the S&P 500. 

"We think financials are going to do well as rates rise over the next 12 to 18 months," Moore said. "And, as I mentioned, we see the environment for macro growth as really positive."

As for technology, she said JPMorgan likes large-cap stocks, as they have been "under-recognized by the market" and will benefit hugely from increased corporate spending.

When it comes to stocks overall, "the market is not overly expensive, not cheap either," Ethan Anderson, senior portfolio manager at Rehmann Financial, told Bloomberg.

"In the absence of strong corporate earnings, you are not necessarily going to see a huge surge in equities over the next 12 months. But the little notch up, on a regular basis, you’re likely to see continue."

Editor’s Note: Get These 4 Stocks Before 399% Stock Market Rally! 

Related Articles:

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Fund Manager Hussman Sees 'Ingredients of a Market Crash'

Monday, 29 Sep 2014 22:37 PM

You can add mutual fund manager John Hussman,president of Hussman Investment Trust, to the list of those who think stock . . .

Insana: 'Bill Gross Is Not Crazy'

Monday, 29 Sep 2014 22:23 PM

Some news reports stated that Bill Gross was about to be fired from Pimco before he quit because of erratic behavior. < . . .

China Experts: Hong Kong Protests Are Cause for Investor Concern

Monday, 29 Sep 2014 22:12 PM

The conflict between Hong Kong authorities and pro-democracy protestors in the region should grab the attention of inves . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved