After the Fed rate cut and recession talk now reversing itself, where should you put your money?
Eugene Peroni, senior vice president and portfolio manager at Advisors Asset Management and David Stepherson, senior portfolio manager at Hardesty Capital Management, named the sectors and stocks to buy -- and avoid.
Peroni sees the market verging on a possible short-term bottom. He notes that health and energy declined, but may be edging back up. Stay with the sectors that were "most established last year: marquee names in tech and health care." He says the latter should be regarded as "more than just a defensive play."
Peroni likes energy and believes that oil "is headed to new records." He sees possibilities in construction and infrastructure plays like chemicals and industrial gas.