5% Pullback Ought To Appear Inside Weeks, Says David Bianco Of Deutsche Asset Control

The stock market could be close to hitting a wall, warns David Bianco of Deutsche Asset Management.
He refers to cyclical value stocks among the areas most vulnerable in the coming days and weeks.
“If there are more doubts on the Fed hiking in December, people are not going to want to own banks going into year-end,” added Bianco.
“Stay with growth stocks,” said Bianco, who particularly likes technology and health care in this environment.
In the meantime, Bianco is telling clients to stick with what’s working in order to temper any near-term sell-off damage.

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