NEW YORK (TheStreet) -- U.S. equities made new all-time highs on Friday after European central banker Mario Draghi discussed quantitative easing and China's central bank unexpectedly cut interest rates.
Investors had expected Draghi's announcement but stocks really started to move higher after the unexpected Chinese news, Mike Murphy, founder of Rosecliff Capital, said on CNBC's "Fast Money Halftime." Investors can buy Joy Global (JOY) and Caterpillar (CAT) as a result.
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Investors should look to the iShares MSCI Europe Financials ETF (EUFN) and the WisdomTree Europe Small Cap Dividend ETF (DFE) , according to Josh Brown, CEO and co-founder of Ritholtz Wealth Management.
Also, agriculture stocks appear to be breaking out, he said. Investors can buy the Market Vectors Agribusiness ETF (MOO) and the Materials Select Sector SPDR ETF (XLB) if they believe the rally will continue.
U.S. stocks will likely continue to grind higher into year's end, said Stephanie Link, chief investment officer of TheStreet and co-manager of the Action Alerts PLUS portfolio.
However, international stocks will likely play a bigger role in 2015, she said. She likes industrial and consumer cyclical stocks as well as U.S. companies with international exposure such as FedEx (FDX) , Yum! Brands (YUM) and Cummins (CMI) .
Many investors like the retail sector heading into the end of the year. Brown is one of those investors, saying holiday spending is likely to be strong. He advised investors to stay long the SPDR S&P Retail ETF (XRT) .