- The stock market has recovered breathtakingly since it hit multi-year lows in late March.
- However, the outlook for individual sectors remains blurred given the uncertainty surrounding new coronavirus cases, energy prices, consumer demand and unemployment.
- We spoke to 11 equity analysts – one for each S&P 500 sector. According to TipRanks, all respondents were voted among the top 5 in their industry.
- Each high-level expert offered market prospects and individual stock selections for their specialist areas.
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The first half of the year was marked by the explosion of the pandemic for US investors, which led to a sharp decline in economic activity, falling energy prices and a devastating rise in unemployment.
Since the multi-year lows of late March, the S&P 500 has recovered around 40% while the tech is heavy Nasdaq composite met a new one Record high Last week, as investors bet that the reopening of companies in the US will stimulate economic activity.
However, there is still great concern about a renewed rise in coronavirus infections, and hence the pace of economic recovery in the United States.
These concerns are increasingly showing bearish prospects on the US stock market on Wall Street. According to a recent survey by Lori Calvasina of RBC Capital Markets, "optimistic views among institutional investors are withdrawing as investors are more afraid of a second wave of COVID-19 and a longer-than-expected recovery."
And under the hood of the market there are even more complex questions about where the individual sectors are going. Enter the stock analyst, a Wall Street profession that has a moment in the sun.
These analysts give retailers important recommendations when trying to take advantage of market turmoil caused by virus-related uncertainties. And their role is particularly important as a wave of private investors are dipping their toes into the market for the first time.
To that end, we spoke to 11 equity analysts – one for each S&P 500 sector. Each respondent was voted among the top 5 in their industry. according to the analyst rating database TipRanks. They offered market prospects and single-stock picks for their specialist areas.
The following is a detailed description of what each of them had to say.