Stifel Warns of a Possible Late-2019 S&P 500 Correction

The video discusses market sector upgrades and downgrades, focusing on cyclicals and defensives. It highlights the importance of trade deals for global growth and the potential impact of a market correction if a phase one deal isn't completed. The discussion also covers the S&P 500's pricing, with a target of 3265, and the influence of real rates on market estimates. The overall outlook suggests limited upside for the S&P 500 but potential gains for cyclical trades.

What changes were made to the preferences in the cyclical sectors back in October?

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What is the significance of a potential trade deal according to the speaker?

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How does the speaker perceive the current trading activity in response to headlines?

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What are the expectations for the S&P 500 based on the speaker's analysis?

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What does the speaker suggest about the upside potential for the cyclical long trade?

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