Frederic Dickson, chief market strategist for D.A. Davison, told CNBC’s “Closing Bell” that he expects stocks to move higher in the next few weeks.
“Nobody is prepared for a break on the upside,” Dickson said Monday. “We’re not looking for a big one, but I think we’ll see prices drift higher.”
He said analysts have cut earnings estimates “fairly aggressively” but noted that U.S. industry “usually has a way of beating estimates by a penny or two” and that will give the market a “little bit of a lift coming out of earnings season in a couple of weeks.”