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Gibson’s sector picks as PCE Price Index jumped to a 40-year high

The Commerce Department on Thursday said the headline PCE Price Index climbed to 6.40% in February – its hottest reading since January 1982. The U.S. Fed prefers personal consumption expenditures to gauge inflation.

What Loop Capital President is buying in this environment

Still, Loop Capital’s Kourtney Gibson says tech stocks seem to be a smart pick in this environment. Further divulging where she’s shopping at present, Gibson said on CNBC’s “Squawk Box”:  

We are going to need tech in this space in order to continue this rally through the end of the year. I’m also focusing for the long-term on the fintech space. I love financials, and also consumer staples.

Gibson did not disclose individual names within these sectors but said she was diversifying her portfolio with both secular growth and cyclical names.

What Gibson expects from the market through the rest of 2022

The S&P 500 index has recovered roughly 10% since mid-March and the President of Loop Capital expects it to be a stock pickers’ market ahead. She noted:

Folks that have a high conviction portfolio strategy whether it’s quantitatively driven or fundamentally driven, they’re picking their spots. This won’t be a market as we move forward in 2022 where rising tides will lift all ships. It’s not going to happen.

A day earlier, JMP Securities’ Mark Lehmann also said it was going to be a stock pickers’ market once quarterly results start coming in, later in April.

The post Gibson’s sector picks as PCE Price Index jumped to a 40-year high appeared first on Invezz.

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