Finance
Stock bull market makes history, Bank of America names 2 sectors to buy
-
Bank of America Merrill Lynch has moved to an
overweight on the industrials and healthcare sectors. -
The bank’s equity strategists don’t see the bull market
in stocks ending soon, mainly because earnings growth is still
strong. -
This bull market is set to become the longest in
history, as measured by its rise from the 2009 trough, after
the market close on Wednesday.
The bull market in US stocks is one day away from making history
as the longest ever, as measured by its rise from the
trough hit in March 2009.
Bank of America Merrill Lynch doesn’t see it ending anytime soon,
mainly because earnings growth is still strong. In fact, the
bank’s equity strategists have broadened out the sectors they’re
bullish, or overweight, on by adding industrials and healthcare
to the list. Their other overweights are in financials,
materials, and technology.
The two new overweights represent a barbell approach that seems
appropriate for an extended bull market and economic cycle.
According to Savita Subramanian, the firm’s head of US equity and
quant strategy, the overweight on industrials creates cyclical
exposure, while the healthcare bet is defensive. …
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