Summer's most profitable groups in crosshairs of new economic problems, Bryn Mawr's Jeff Mills warns (via TradingNation)
Bryn Mawr's Jeff Mills sees few options for investors looking for big second half gains.
Due to the country's coronavirus surge, he predicts economic setbacks will start to meaningfully impact some of the summer's most profitable market groups. "We're past the point where every single data point is going to be ahead of expectations," the firm's chief investment officer told CNBC's "Mills, who has $17 billion in assets under management, warns economically sensitive stocks have the most to lose.
"As economies have started to close down again, you're starting to see the economic recovery re-moderate," he said. "That could be difficult for some of those cyclical areas of the market that have been supportive. So, at this point you wonder what is going to take us higher."
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