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

Securities Times e Company News, CITIC Securities Research Institute's report indicates that with the US election settled, the current high valuation of US stocks. However, the overall profit of US stocks is expected to maintain high growth in 2025, and the recovery of performance will also spread from technology stocks to other industries. However, the change of liquidity in the short term may still bring a phased disturbance to the US stock market. If Trump pushes tax cuts and regulatory easing policies after taking office next year, 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 of 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 growth in the underlying and sufficient incremental funds, CITIC Securities is relatively optimistic about the overall performance of US stocks in 2025, and recommends focusing on four lines: 1) Information technology with strong growth and relatively reasonable valuation; 2) Utilities with high dividend attributes and the upward trend of energy consumption demand promoted 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.