CNBC Pro Talks: Fund manager reveals his favorite 'Magnificent 7' alternatives and more

The U.S. economy avoiding a recession entirely could mean a rally in some currently unloved stocks, according to Freddie Lait, chief investment officer at Latitude Investment Management. Lait nevertheless warned that the current market rally is very narrow and "Magnificent Seven" stocks could be in trouble if interest rates stay higher for longer, or if earnings growth slows.