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Citigroup raises its rating on the U.S. stock market to "overweight," favoring defensive stocks
According to Jinshi reports, Citigroup's strategists have upgraded the rating of the U.S. stock market from "neutral" to "overweight," stating that the increasing uncertainty of the war situation makes investors more inclined to choose companies with higher quality and stronger defenses. At the same time, they downgraded the rating of emerging market stocks from "overweight" to "neutral," citing that these markets are vulnerable to energy shocks and the strengthening of the dollar.
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