JPMorgan Asset Management’s global markets strategist explains his allocations simply. “We remain of the view that stocks will outperform bonds and cash,” he says, adding that expectations are for only single-digit growth of the U.S. equity market. Schweitzer says he continues to favor industrial cyclicals, including basic materials. “We are still at the early stages of a capital spending up cycle and the consumer, who has led the economic expansion for the last couple of years, will share the stage with capital spending. The incremental change is in the direction of more support from capital spending, and, therefore, more support for industrial cyclical companies.”–Robert F. Keane
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