REUTERS: The escalating U.S.-China trade war has sent dividend-rich sectors like utilities higher, but investors don't need to get all defensive just yet, according to strategists who say there are plenty of growth stocks with some insulation from China.
"If you're looking to avoid the pure dividend play and avoid the China trade narrative, you have to look at stocks that are a pure play on the U.S. economy," said Peter Kenny, founder, Kenny’s Commentary LLC in New York. In online advertising, Morgan favors Twitter, Facebook and Snap Inc over Google parent Alphabet, which suspended business with China's Huawei this week as a result of the trade battle.
But while U.S.-facing recruitment firms such as Kforce and ASGN Inc may not be hurt directly by the trade war, Robert W. Baird analyst Mark Marcon notes that they would suffer if tariffs caused the economy to weaken.
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