Beyond the S&P 500 — strategist says these foreign markets could offer major returns

U.S. markets have stretched to records again. But, after a steep run, one strategist is looking farther afield for value.

But after a steep run to records for U.S. markets, some strategists are looking farther afield for value.

"Look at all the stimulus that [China is] putting in the system there, and the countermeasures that they're taking, I think we're setting ourselves up for really relative value opportunities," said Emons.on medium-term loans earlier this week to alleviate some of the economic pressure caused by the coronavirus. The People's Bank of China also lowered interest rates on reverse repurchase agreements earlier in the month.

"We know that this is still playing out and we'll see the data coming out this week and earnings data going forward. But I do think that the financial markets in general have viewed this virus outbreak not as a financial crisis but more like an economic challenge and I think the challenge in these countries has been taken head-on," said Emons.

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