"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.

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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."

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