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The U.S. equity markets have continued to climb to new all-time highs driven by a V-shaped U.S. economic recovery, trillion dollar stimulus plans, and an accommodative Fed to backstop the capital markets with record liquidity. Mounting skepticism surrounding the credibility of global economic growth projections, due to rising concerns about COVID-19 cases in Europe and Asia and elevated valuations, has caused some investors to question the veracity of earnings estimates.
In this session, CFRA’s Chief Investment Strategist, Sam Stovall, provided his mid-year U.S. equity investment review and outlook for the second half of 2021. CFRA equity analysts Elizabeth Vermillion and Richard Wolfe provided a deep-dive on the Industrials and Materials sectors covering select themes related to infrastructure and commodities costs impact on inflation. Lastly, CFRA’s Head of ETF and Mutual Fund Research, Todd Rosenbluth provided his outlook for the ETF market.
This session addressed:
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What’s driving 2021 earnings in the midst of the COVID-19 pandemic, and which sectors are poised to experience the biggest opportunities or risks
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CFRA’s equity outlook for the second half of 2021, just ahead of the second quarter earnings season, along with sector rankings and valuation benchmarks
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Infrastructure impact on industrial sector featuring sub-industries on construction machinery and heavy trucks and construction and engineering.
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Commodity pricing impact on materials sector focusing on chemical sub-industries including commodity, diversified, agricultural and specialty.
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Trends and outlook for sector ETFs
Speakers
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Sam StovallChief Investment StrategistAs Chief Investment Strategist, Sam Stovall serves as analyst, publisher, and communicator of CFRA’s outlooks for the economy, market, and sectors. He is the author of The Seven Rules of Wall Street and The S&P Guide to Sector Investing. He also writes weekly “Sector Watch” and “Investment Policy” reports on CFRA’s MarketScope Advisor platform, and maintains the Industry Momentum and Seasonal Rotation portfolios. His work is also found in CFRA’s flagship weekly newsletter The Outlook. |
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Elizabeth VermillionEquity AnalystElizabeth Vermillion is an equity research analyst at CFRA. Elizabeth conducts fundamental analysis and valuation assessments for companies in the Industrials sector, with a focus on Commercial Services, Machinery, and Trading Companies and Distributors. Elizabeth holds a B.S.B.A in Finance and Economics from Creighton University. |
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Richard WolfeEquity AnalystRichard Wolfe is an Equity Research Analyst at CFRA. His coverage includes commodity chemicals, specialty chemicals, fertilizers and agricultural chemicals, and building products. Richard holds a B.S. in Economics from North Carolina State University and an M.S. in Applied Economics from Georgia Southern University. He is also a Level III Candidate in the CFA Program. |
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Todd RosenbluthHead of ETF and Mutual Fund ResearchTodd Rosenbluth is Head of ETF and Mutual Fund Research at CFRA, where he leads the firm’s holdings-based research efforts. Todd publishes regular thought leadership content on equity and fixed income products, supports the quantitative fund models and interacts with clients. He also serves as a member of CFRA’s Investment Policy Committee. Todd has frequently provided ETF education at Inside ETFs conferences and been quoted in media outlets, such as Barron’s, New York Times and the Wall Street Journal. He also held the position of Senior Director of ETF and Mutual Fund Research for S&P Global Market Intelligence. |