Citigroup downgrades U.S. stocks amid recession risks, upgrades Europe

Business News News

Citigroup downgrades U.S. stocks amid recession risks, upgrades Europe
Business Business Latest News,Business Business Headlines

Citigroup cut its rating on U.S. stocks to ‘neutral’ from ‘overweight’, following a strong rally in the first half of the year

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 92%

on Monday downgraded U.S. stocks in anticipation of a pullback in growth stocks and a recession in the fourth quarter of the year, while betting on beaten-down counterparts in Europe with an upgrade.

Citigroup instead sees potential in “heavily discounted” European stocks, as the bank increased allocation to some cyclicals. These include the materials sector, which is seen benefiting from a potential uptick in China’s economic growth. Strategists at the brokerage downgraded UK stocks on a lack of exposure to growth stocks and a stronger pound. Emerging market stocks, upgraded to an “overweight” rating, replaced the UK stocks in Citigroup’s asset allocation.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

globeandmail /  🏆 5. in BUSİNESS
 

Business Business Latest News, Business Business Headlines



Render Time: 2025-01-16 09:21:01