CITIC Securities: Bullish on the overall performance of US stocks in 2025, focusing on four lines

Securities Times News, CITIC Securities Research Report pointed out that with the dust settling on the US election, the current high valuation of US stocks. However, the overall profit of US stocks in 2025 is expected to maintain high growth, and the recovery of performance will gradually spread from technology stocks to other industries. However, the change in liquidity in the short term may still bring a phased disturbance to the US stock market. If Trump takes office next year and pushes tax cuts and regulatory easing policies, it will provide strong support for the overall performance of the US stock market. However, if the tariff policy is implemented, it is expected to challenge the industrial and consumer sectors of US stocks. In addition, given the continuous rise in US fiscal pressure, it is not ruled out that the US government may consider adjusting the capital gains tax rate. Looking ahead to 2025, although the potential downward turning point of liquidity may lead to a phased correction of US stocks, in the context of strong basic growth and sufficient incremental funds, the overall performance of US stocks in 2025 is relatively optimistic, and four lines are worth paying attention to: 1) Information technology with strong growth and relatively reasonable valuation; 2) Public utilities with high dividend attributes and the promotion of energy consumption demand by the AI industry chain; 3) Healthcare with high growth in obesity and Alzheimer's drugs; 4) Financial industry expected to benefit from regulatory easing.