Slow, Steady Earnings Growth to Move Market Higher: Analyst
Stuart Freeman, chief equity strategist for A.G. Edwards, told CNBC’s “Squawk Box” that he believes slow, steady earnings growth will move the market higher.
“We think inflation is going to soften as we move through the end of the year,” Freeman said Tuesday. “That should be a little bit better for the long bond, or at least keep it at this level. As long as the earnings growth is there, even if it’s slow...we’re looking for 6% for this year."
Freeman expects the market to hit "higher highs" in the "fall and later in the year.”
He expects the gross domestic product growth of about 2.2% at the end of the year. Then, GDP growth will slow to about 1.8% in the first quarter or 2008, he said.