Citigroup upgrades U.S. stock market rating to "Overweight," favoring defensive stocks

Mars Finance reports that, according to Jintiao, Citi Group’s strategists have upgraded their 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 higher-quality, more defensive companies. At the same time, they downgraded the rating of emerging market stocks from “Overweight” to “Neutral,” citing that these markets are more susceptible to energy shocks and a strengthening dollar.