Friday, March 29, 2024
Homepower lunchPower Play: Where to invest in the United States

Power Play: Where to invest in the United States

Stocks are rallying on Friday, with the Dow, Nasdaq and back above their pre-Brexit vote levels.

Benjamin Pace, chief investment officer of HPM Partners, tells CNBC's "Power Lunch" he has a S&P year-end target of 2200.

"The market situation here is better than rest of the world. I'm a little underweight global equities, like U.S. large and small-caps," Pace said.

Read More Europe ends sharply higher after US adds 287,000 jobs in June

Jack Ablin, chief investment officer of BMO Private Bank thinks U.S. equities are expensive right now, but given the global uncertainties, he is sticking with mid-cap stocks.

"The mid-cap S&P 400's price-to-sales ratio is trading just over its historical median. Mid-cap revenues have expanded 1.8 percent over the last four quarters while large-caps witnessed sales fall fractionally," Ablin said.

Small-caps, mid-caps and large-caps are all higher during trading, but year-to-date, small-caps and mid-caps have outperformed large-caps.

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