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‘Resilience’ in 2013 Market: Reinhart

Wednesday, 13 Mar 2013 | 12:55 PM ET
'Resilience' in Market Through 2013: Reinhart
Wednesday, 13 Mar 2013 | 12:08 PM ET
The stock market looks to continue gains beyond short-term roadblocks, Morgan Stanley Chief U.S. Economist Vince Reinhart says.

The stock market looks to continue gains through the rest of the year after overcoming short-term roadblocks, Morgan Stanley Chief U.S. Economist Vince Reinhart said Wednesday on CNBC.

"The good news is politicians aren't going to do much more harm," he said. "They're not going to probably do much good either, and we'll get to see the resilience of the market economy show through over the course of 2013."

On "Fast Money," Reinhart said that the stock market would see an inflection point mid-year, noting that it still faced "clouds in the very near term."

Reinhart added that he believed "politicians are in the process of getting out of the way."

He added that his forecast for 2013 doesn't factor in Washington lawmakers doing anything drastic in either direction - no "harmony breaking out suddenly" to reach a grand bargain on the federal budget and debt ceiling, nor a government shutdown where the market would see the "wheels falling off in the process."

Reinhart was far more muted in his outlook.

"What we'll see is that the lingering effects of the financial crisis are receding," he said.

Trader disclosure: On March 13, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long JPM CALLS; Jon Najarian is long TJX CALLS; Jon Najarian is long FIG CALLS; Jon Najarian is long BX CALLS; Jon Najarian is long KKR CALLS; Jon Najarian is long GT; Jon Najarian is long SLV CALLS; Pete Najarian is long AAPL CALLS; Pete Najarian is long C CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long XLF CALLS; Pete Najarian is long CSCO CALLS; Pete Najarian is long YHOO; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long WHR CALLS; Pete Najarian is long AMZN CALLS; Pete Najarian is long BX; Josh Brown is long AAPL; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TGT; Josh Brown is long KORS; Josh Brown is long LOW; Josh Brown is long IEO; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long SBUX; Stephanie Link is long FB; Stephanie Link is long TJX; Stephanie Link is long TTS.

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