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U.S. Industrials & European Banks Look Best This Earnings Season


Stocks may be taking a slight breather before the start of 2nd quarter earnings season, but expect the rally to resume in the 2nd half of 2014 as the economy rebounds from a slow start, said Jeffrey Kleintop, Chief Market Strategist at LPL Financial. Kleintop said he expects a solid earnings season full of buyback announcements as companies will not be able to make weather-related excuses. He said he is most bullish on industrial stocks because of the return of business spending. And while Kleintop is not positive on US financial stocks due to sluggish trading and lending, he is bullish on European banks because of the ECB's support.