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Trump trades are making a comeback, analyst says

Investors have a second chance to get into stocks that are expected to benefit the most from President Donald Trump's policies, said Stephanie Link, managing director and equity portfolio manager at Nuveen-affiliate TIAA Investments, on CNBC's Closing Bell Thursday.

"You can make a case to get back into that reflation trade," Link said as stock in the industrial materials and financial sectors fall to lower levels. "We are back to where we were back in November…before the election."

Following the election, the aforementioned Trump trade sectors all saw constant share price increases until the beginning of March, but now "those stocks are actually quite cheap," Link said. "They are looking very attractive."

Impressive corporate earnings, an improving housing market, and a promising economy are all factors Link said should attract investors and traders to get back into those areas.

United Capital CEO and founding partner, Joe Duran disagreed in the joint CNBC interview and said the conditions of the stock market are not as they seem.

"The U.S. has a lot of optimism and hope and a lot of the soft data looks good, but the hard data has been getting weaker," Duran said.

"What you are seeing is global companies are doing extremely well," Duran added. "The U.S. [economic growth] is actually slower now than the rest of the world. While we are very optimistic we've got to see start seeing that pull through [in hard data] or it's going to start hurting earnings in the U.S."

Link conceded on the hard data point, but she said some signs do lead her to believe a turnaround is coming for the U.S. economy in the second quarter.