After months of presenting a pessimistic outlook for the US and recommending defensive investment exposures, global investment heavyweight Standard & Poor’s (S&P) has this week made “substantial changes” to its US investment outlook for the second half of this year.

Widely-recognised as one of the world’s more influential investment commentators, major S&P pronouncements are often mirrored by a large number of US investment houses and can become almost self-fulfilling prophecies.

S&P’s New York-based S&P Investment Policy Committee is now recommending investors adopt a more growth-oriented exposure.

Using a sectoral approach,...