S&P's Second-Half Outlook for Sectors and Styles

Standard & Poor's Investment Policy Committee has a neutral allocation recommendation toward U.S. equities

We believe the expected stimulus to economic growth, corporate earnings, and consumer spending from seven interest-rate reductions and a more than $100 billion tax rebate program may at least be partly offset by concerns surrounding the impact of rising food and energy costs on consumer spending, and the speed with which the Federal Reserve potentially reverses course and begins to raise short-term interest rates.

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