Citigroup has turned bullish on U.S. equities, joining a flurry of brokerages betting on resilient corporate earnings, attractive valuations following recent pullbacks, and the rising contribution of U.S. technology stocks to global earnings growth.
The Wall Street brokerage upgraded U.S. equities to “Overweight” from a “Neutral” rating in a note late Monday. The benchmark SP 500 has rebounded nearly 9% from a seven-month low in late March, on optimism that the Middle East conflict could ease and reduce the risk of an oil-driven inflation…
