US stocks (^DJI,^GSPC, ^IXIC) pull back from the recent rally fueled by President-elect Donald Trump’s reelection, responding to geopolitical escalations in the Russia-Ukraine War. Citi US Equity Strategist Drew Pettit joins Seana Smith and Brad Smith on the Morning Brief to outline his strategy as the market cools. “Honestly, I think this is very healthy. To start, we had a really rapid move to the upside. We had a lot of news flow — election, Fed, bring back geopolitics, earnings really haven’t gone away in that entire backdrop,” Pettit says. “Honestly, we think the sentiment was getting a little extended. [This] healthy pullback gives you some upside into the end of the year.” Pettit points to industrials and consumer stocks, as well as cyclical trades, to have seen renewed enthusiasm coming off the 2024 election results. “And then on the structural growth side of things as well, there’s still a lot of operating leverage. We got some pretty good results out of that side, I would especially say in communication services. Again, this dip gives us a chance to buy back into those trades,” Pettit says. Watch the video above for more from Pettit, including his 2025 outlook, Nvidia’s (NVDA) market impact, and more.
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