19 minutes ago
Investors remain in cyclical sectors despite risk of market pullback, strategists say
Last week, the market hit new highs following the March FOMC meeting. But Sam Stovall, chief investment strategist at CFRA Research, believes a stock market decline could be on the horizon.
“We’re coming off the post-FOMC high,” he told CNBC in an interview Monday. “The market is becoming increasingly vulnerable to market declines and price declines.”
Still, investors remain focused on cyclical sectors, and Stovall expects activity to improve in the energy, industrials and materials categories.
“They continue to say that the market is likely to benefit from lower interest rates and we will see an impact on more cyclical sectors,” he said. “It doesn’t look like investors are being very defensive right now. Instead of getting into consumer staples, health care and utilities, investors will continue to gravitate towards materials, industrials and energy.”
— Lisa Kailai Han
46 minutes ago
