Bovino And Kleintop Feel That The Materials, Industrials And Technology Sectors Will Be The Winners On The Rebound

In an article on CNBC, LPL Financial’s chief market strategist Jeffrey Kleintop and Standard & Poor’s’ senior economist Beth Ann Bovino expressed their views on the future prospects of the stock market. Bovino said, “Overall, we see the U.S. economy holding up. It’s going to be a lazy U[-shape].” However, she cautions about economic headwinds in the forthcoming months. Meanwhile, Kleintop said that despite the fact that the US markets have, of late, been hit by negative reports coming in from Europe, no significant fundamental damage has been caused so far. “We’ve seen earnings revisions moving up in recent weeks. That creates an environment of value and some investors will be able to step in and take advantage of that in the coming weeks," he said. “We're looking to small-cap US stocks—they are very attractive as an asset class and I think it’s going to be one of the leaders to the upside,” added Kleintop. Speaking in terms of sectors, Kleintop suggested investors focus on business spending-oriented sectors, instead of consumer-oriented sectors. “And look at commodity-driven sectors. Materials, industrials and technology look to be the winners on the rebound,” he added. Read more from Benzinga's Markets. Check out Tickerspy's daily indexes.