Thursday, March 28, 2024
Homepower lunchPower Play: Stocks to own in Q2

Power Play: Stocks to own in Q2

Stocks continue to rally in April as the Dow, Nasdaq and erase early losses. The major averages are now on track for their sixth weekly gain in seven weeks.

Despite this rally, Wunderlich Securities Chief Market Strategist Art Hogan tells CNBC's "Power Lunch" on Friday investors have to rebalance their portfolios.

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"Look for a pivot away from utilities (overbought- low yields) into technology and consumer discretionary," Hogan said.

Some of the stocks Hogan likes in those sectors are QVC Group, Reed's, Vera Bradley and Cherokee.

"We are seeing green shoots in consumer-land. Confidence number was good this week," Hogan said.

QVC Group and Reed's are higher during trading, while Vera Bradley and Cherokee are lower.

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