Time to 'buy the dip' as resilience remains evident through economic data: Oppenheimer's Stoltzfus

Market Opportunities - The current market presents opportunities to focus on undervalued stocks that may have been unfairly sold off by short-term investors, rather than simply buying dips [2] - The market rally is supported by positive signals from the New York and Boston Federal Reserves, indicating a resilient bull market [2] Sector Preferences - The company favors sectors such as information and communication services, industrials, financials, and consumer discretionary, recommending cyclicals over defensives [3] - There is a cautious stance on real estate, suggesting a more granular approach to individual properties, while materials are beginning to gain favor [5][6] Federal Reserve Outlook - The expectation is for the Federal Reserve to cut interest rates by 25 basis points in December, signaling the end of the rate hike cycle that began in March 2022 [3] - The resilience in corporate earnings, particularly within the S&P 500, is noted, with a predominance of earnings growth across most sectors [4] Consumer Sentiment - The University of Michigan's consumer sentiment index aligns with expectations, showing a slight increase post-government shutdown, which may influence consumer perceptions of the economy [5] Utilities Sector - The utilities sector is viewed positively, especially regulated utilities, as a potential reduction in interest rates could enhance their yield attractiveness [7]