SlateStone strategists: U.S. stocks still have upside potential, but should shift towards defensive sectors

SlateStone Chief Equity Strategist Erin Gibbs advises investors to adopt a defensive positioning in the U.S. stock market, despite an overall bullish outlook. She believes that investors should shift from overvalued technology stocks to defensive sectors such as healthcare and telecommunications to cope with a potential market slowdown. Gibbs points out that the U.S. stock market is highly concentrated, especially with the "seven giants" accounting for one-third of the market, but she does not recommend completely exiting U.S. stocks; rather, she suggests tactical adjustments. She is optimistic about the upcoming earnings season, expecting strong performance from the S&P 500 index