meg turrell explains. >> here is what to watch for in pharma and biotech in the second half. the habitat will continue to be hot with gilead expected to receive approval on a drug combination in october and more data on drugs from merck and bristol-myers in november. among biotext, expect clinical data readouts on important pipeline products that could have big implications. and never discount m&a. analysts expect it the record year to continue. and the second half's largest deal may in fact be a rerun of the first half. analysts expect pfizer to make a second run at buying astrazeneca. that's the second half. for "nightly business report," i'm meg turrell. >> so what is next for the stock market and which sectors will be the winners and the losers? we turn now to steven whiting, global chief investment strategist at city private bank. steven, thank you so much for joining us. >> thank you. >> who would have guessed back in january that this is where we would be in july? what is your outlook for the rest of the year? >> we had a good first half of the year if you count in div