Season 10 · Episode 14
Our Year Ahead US Sector Outlook – Seeking Out Value
RBC's Markets in Motion · RBC Capital Markets
December 22, 20255m 17s
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Show Notes
The big things you need to know:
- First, we are upgrading S&P 500 Health Care to overweight from market weight.
- Second, we are upgrading S&P 500 Communication Services to overweight from market weight.
- Third, our other S&P 500 recommendations are unchanged. We remain overweight Financials and Materials, underweight Consumer Discretionary, and market weight all other sectors. Among our market weights, we have a preference for sectors that look attractively valued on our quant analysis (Consumer Staples, Energy, REITs) over those that look expensive (Utilities, Tech, and Industrials) which have been the early beneficiaries of the AI trade.
- We also close with a quick thought on the biggest macro takeaways from our 4Q25 global analyst outlook survey.