Strategist Likes Technology And Industrial Stocks: CNBC

Alec Young, equity strategist at Standard & Poor’s, is bearish on defensive sector.

Talking with CNBC, Young said that he likes technology and industrials. He said, “We’ve been overweight all year. One of the issues that’s helping the cyclical, whether it’s retailers, discretionary, semiconductor names or some of the industrials, is that all of the negatives that are negatively known are priced into the names, and when they do report, they’re exceeding modest expectations.”

Young is underweight on consumer staples, telecom and utilities sector.