Credit Suisse Sees Tech Shares Rising In 2D Half Of However Careful On Short-Time Period Marketplace

Credit Suisse is neutral to slightly cautious on the broader market for the next three months, but remains constructive in its long-term predictions, according to its second half outlook.
Markets in the first half of 2017 have been largely positive, with the S&P 500 up 8.5 percent so far.
The firm’s analysts were most bullish on technology, industrials, and health care, slightly bullish on energy and financials, and bearish on retail and consumer non-durables as fear of Amazon “incursion” continues to loom over most subsectors.
“There are many bottoms-up drivers to the technology sector – including the iPhone Super-cycle, continued growth in Cloud, artificial intelligence, [and] autonomous driving,” said the note by Chief Strategist Lori Calvasina and other analysts, “we continue to see the overall prospects of information technology as positive with IT substitution and penetration in the economy more likely to accelerate than moderate.

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