Bank of America warns: Defensive stocks in the U.S. market "turning over" indicate that the U.S. economy may not enjoy "good times for long."
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Bank of America warns that defensive consumer staples and healthcare stocks have recently outperformed other sectors, suggesting that the U.S. economy may face challenges. The S&P 500 index has fallen 0.6% over the past month, while consumer staples and healthcare stocks have risen 6.8% and 2.6%, respectively. Bank of America strategist Michael Hartnett pointed out that signs of a slowdown in economic activity could lead to a disruption in the stock market bull run, and the risk of a slowdown in the U.S. economy is greater than the risk of rising inflation
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