Citi's Kate Moore Sees Safety in US Large Cap Stocks

• US large-cap stocks are showing resilience due to pre-existing reduced positioning and their higher quality.
• The biggest market moves have been in small-cap and non-US equities, driven by multiple expansion rather than earnings.
• Within large caps, cyclical growers, including industrial metals and copper, are expected to sustain earnings momentum despite geopolitical and economic shocks.

Kate Moore, CIO at Citi Wealth, observes resilience in US large-cap stocks amidst global market sell-offs and rising oil prices. She attributes this to prior reduced investor exposure and the inherent quality of these assets. Moore suggests US large caps remain the safest place in risk assets, with continued opportunities in cyclical growers like industrial metals and copper.