她周一预计，① The chief strategist at bank of america expects cyclical stocks (such as csi commodity equity index, construction, and infrastructure) to soar strongly as investors flock to the 'old economy' sectors; ② She believes the usa economy is ready for a new spending cycle, predicting that the s&p 500 index could rise to 6666 points next year.
According to a news report on December 4 from financial news agency (Editor Huang Junzhi), wall street generally expects the usa stock market to perform strongly next year. However, it seems that next year will no longer be the era of the magnificent 7, as strategists' bullish forecasts are no longer entirely 'centered' around technology stocks.
Savita Subramanian, the chief usa equity strategist at bank of america, stated on Monday that there is a perfect combination of conditions that may lead to strong gains in one particular industry.
She expected on Monday that perfect conditions for cyclical stocks are forming. Subramanian referred to the few sectors within the usa stock market that typically perform well when the economy strengthens.
In her latest interview, she mentioned that these include areas like csi commodity equity index, construction, and infrastructure, which will inevitably see more upside as investors flood into the 'old economy'.
"I think this is almost a mandated infrastructure rebuilding. Increasing efficiency. I mean, look at all the equipment companies are using. It's not very efficient. If they replace it, they would become much more efficient. This involves spending money in the old economy," she added.
Subramanian also stated that the usa economy is ready for a new spending cycle.
"I believe all of this is creating a perfect storm, allowing cyclical stocks to outperform the large cap in a truly substantial way over the next few years," she added.
Subramanian mentioned that she is particularly bullish on the manufacturing industry, despite data from the Institute of Supply Management showing that manufacturing activity has contracted in 24 of the past 25 months.
However, she pointed out some favorable factors, such as the demand for reshoring, building electrical utilities, and creating new infrastructure, as well as technology companies wanting to invest in ai and datacenter construction.
"They basically told us that they will invest significant amounts in the coming years, not just in technology, but also in electrical utilities, infrastructure, metal, and machinery. I think this represents a huge growth in manufacturing spending," she added.
For the overall stock market in 2025, Subramanian also holds a bullish view. Bank of America expects the s&p 500 index could rise to 6,666 points next year.
Coincidentally, morgan stanley is also optimistic about cyclical stocks, especially financial stocks which have outperformed other sectors in the market. Data from goldman sachs also shows that hedge funds have been increasing their shareholding in cyclical stocks focusing on financial stocks in the third quarter. ubs group is also bullish on financial, industrial, and utilities stocks.
