Stocks Fall on Yield Inversion; Data Still Favors Stocks

August 16, 2019

In this strategy briefing…

FS Insight Investment Views

Near Term View: Falling 10-yr, weakening USD, & higher odds of Sep. rate cut = very bullish. Stick with trades working in ‘19, especially asset-light stocks
YE Target: 3,125 (YE P/E 17x · 2020E EPS $184)
Style: Cyclical, US better than RoW
Focus Stock Ideas: GOOG, AAPL, NKE, AMGN, BKNG, FB, PG, PM, ROK, TSLA, XLNX, AMZN, AXP, BIIB, CBRE, CSCO, EBAY, EXPE, GRMN, KSS, MNST, MO, NVDA, PSX, PYPL
Additions: AXP, PYPL
Deletions: DE, TPR
Disclosures (show)

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