Clare Pleydell-Bouverie, co-lead fund manager at Liontrust, tells "Worldwide Exchange" she sees long-term upside in Oracle and small-cap IPOs, calling it a market driven by selective growth stories.

New York

Liontrust analysts describe the current market as favorable for stock pickers, noting that while overall index valuations are high, there are still pockets of value in certain sectors. They highlight opportunities in alternative asset managers such as Apollo and Blackstone, and emphasize the importance of identifying companies with durable, secular growth that is not yet fully reflected in their stock prices.

Within the technology sector, Liontrust sees a divide between firms aligned with new technology stacks and artificial intelligence, and those based on older technologies. They also point to emerging opportunities among small-cap companies, particularly those coming to market during significant technology shifts and challenging macroeconomic conditions. The analysts suggest that a more dovish stance from central banks could further benefit these smaller, fast-growing firms.

Liontrust: It’s a stock picker’s market

So I think the question everybody's trying to figure out what do you do with the markets trading at all time highs during these sectors that you see with potentially more upside moves. We had a lot of guests come on the show saying that financials have a lot more upside room when it comes to deregulation. And we may be seeing signs of that with some of the plans that Goldman has to acquire another bank. So we certainly see pockets of value across sectors. We very much point to this being a stock pickers market and certainly not saying very attractive valuation at the at the index level. When it comes to financials in particular and we saw this from the U.S. banks reporting earnings expectations were sky high because this was a very crowded trade. Obviously deregulation is great news for these companies. But this was largely priced into the stocks. If we think about that sector in particular we actually still see some value in the alternative asset managers Apollo Blackstone. But really across sectors the key for us is we're looking for durable secular growth stories that haven't been present to stocks. And this is this is very idiosyncratic. I want to look at the tech trade. We're just talking about an XP semiconductor being the biggest laggard on the S&P in the pre-market. It seems like there's a lot of volatility in a trade that a lot of people also turn to for safety. Last week there was news from NVIDIA that moved it higher. News from ASML that moved it lower. I mean I could just go on and go on. What's your take when it comes to the tech trade. Also in keeping in mind some of that Stargate news that a data center deal hasn't been inked at least not yet. We're seeing a polarization within that within the tech space. Those companies that are aligned with the new technology stack and AI are on one side. Those that are really built on the old technology stack which really goes to what we saw from NXP last night have a very different story to tell. With Stargate there are going to be delays. We saw a consternation about Blackwell delays when NVIDIA put this to market. We'll be buyers of weakness on Oracle shares today. For the first time ever we're seeing today's big tech incumbents being challenged by new competition. And Oracle we think is really this cycle's Microsoft. Why. Because they purpose built that cloud infrastructure for accelerated compute which is what is necessary for a deployment at scale. It's 50 to 60 percent cheaper 30 40 percent faster than the likes of Azure and AWS. And this is why Oracle was chosen in the first instance for Stargate not Microsoft. Yes there might be some delays. But if you're a long term investor I think you can see through this and see the opportunity to invest in new winners of the next decade. This happens with every major technology platform ship. You see a reshuffling of the competitive landscape. One of the question I want to talk to you about we're going to hear from Jay Powell later today. A lot of talk about cyclical names. You already hit the financials. Are there any other the cyclicals whether it's industrials materials small small caps that you see having a lot of upside potential in the back half of this year. Specifically if we get a dovish Jay Powell later today. We definitely see some latent value in the in the small makeup space. And I might actually point to some recent recent ideas. This has been a market that has been closed for a very long time. And the quality of companies coming to market at the moment is has really surprised us. And investors in general should always pay attention. We believe to companies coming to market during technology platform shifts. But but also those that do so in quite challenging macro market conditions which has been the case the first half of this year. So companies like Mountain that is really doing what matter did for social. Google did for search. They're doing that CTV advertising sale point in cyber security service Titan which is sort of the operating system for trades. These these are smaller companies that are growing incredibly quickly. And we think they've definitely been a beneficiary of a more dovish Jay Powell if we do see that.

Ozzy Osbourne, the hellraising frontman of Black Sabbath and reality TV star, has died aged 76. CNN’s Stephanie Elam looks back at the legendary career as the Godfather of Heavy Metal.

Los Angeles

Legendary singer Ozzy Osbourne dies at 76

During his Oval Office meeting with Philippine President Bongbong Marcos, President Donald Trump accused former President Barack Obama of treason for his handling of the investigation into Russian interference in the 2016 presidential election.

Washington

Trump accuses Obama of treason over 2016 election probe

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Minot

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A judge on Monday sentenced ex-Louisville police officer Brett Hankison to 33 months in prison and three years of subsequent supervised release, following the 2020 shooting death of Breonna Taylor.

Louisville

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Jerusalem

Middle East Conflict

Medics say four Gaza children starve to death in hunger crisis

Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold a new round of peace talks on Wednesday. The announcement comes as Russian drones hit parts of Ukraine, officials said.

Kyiv

Ukraine Invasion

Zelenskyy says Russia, Ukraine to hold new round of peace talks

The Trump administration released thousands of records related to the assassination of Dr. Martin Luther King Jr., despite objections from his family. CBS News' Weijia Jiang has the latest.

Trump admin releases Martin Luther King Jr. assassination records

Students gather to protest in Bangladesh outside the school where a military jet crashed Monday, killing at least 30 people, including dozens of children.

Dhaka

Protests break out as death toll passes 30 in Bangladesh jet crash

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Tehran

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Taipei

Taiwan holds unprecedented military drills

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Zelenskyy says new peace talks planned for Wednesday

Israel’s latest offensive in Gaza is targeting humanitarian hub Deir al-Balah because officials believe Hamas is hiding hostages there. The move comes as 25 countries, including Canada, called for an immediate ceasefire and the resumption of aid.

Israeli offensive targets humanitarian hub of Deir al-Balah

A sweeping cyber espionage operation targeting Microsoft server software 'SharePoint' compromised about 100 different organizations as of the weekend, two of the organizations that helped uncover the campaign said on Monday (July 21).

Redmond

Microsoft server hack hit about 100 organizations, experts say

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Boston

Protestors gather outside courthouse amid Harvard-Trump hearing

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At least 20 killed after Bangladesh Air Force jet crashes into school

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Muan-gun

Report says pilot shut wrong engine before Jeju Air crash

Iran, China and Russia will discuss Tehran's nuclear activities and sanctions on Tuesday, with the E3 nations set for talks on Friday amid threats of reimposing sanctions.

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Hundreds of Bedouin civilians were evacuated from Syria's predominantly Druze city of Sweida on Monday (July 21) as part of a U.S.-backed truce meant to end fighting that has killed hundreds of people, state media and witnesses said.

As Suwayda

Bedouin civilians evacuate Syria's Sweida as tense truce holds

Japanese Prime Minister Shigeru Ishiba vowed to remain in office on Monday after his ruling coalition suffered a bruising defeat in upper house elections, prompting some of his own party to deliberate his future as the opposition weighed a no-confidence motion.

Tokyo

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Caracas

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Japanese voters headed to the polls on Sunday (July 20) in a tightly contested upper house election that could unleash political turmoil, with rising prices, immigration concerns and the emergence of a Trump-style "Japanese-first" party threatening to weaken Prime Minister Shigeru Ishiba's grip on power.

Japan heads to the polls for Upper House elections

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Breakdown