Jordan Kimmel, market strategist at National Securities, told CNBC’s “Power Lunch” that the U.S. economy is strong and the market will go higher.
“Conditions right now couldn’t be better,” Kimmel said Friday. “…There’s a build-out that’s bigger than people imagine, in concrete, steel, basic materials, energy…Everyone is looking over their shoulder for the top. The top is nowhere in sight, in my opinion.”
Elizabeth Miller, managing director at Trevor Stewart Burton & Jacobsen, agreed that economic conditions are good.
“I think we’ve got a stool with all three legs: global liquidity, decent earnings growth, and reasonable valuations,” Miller said. “I think we’ve had quite a run so we could go sideways for a while, but my longer-term view is very positive.”
She said rising interest rates and oil prices don’t pose an immediate threat to the economy: “In the short-term, they have the effect of muting some demand, and certainly our federal reserve is focused very tightly on that.”
Miller continued, "What we really see is an economy that almost looks like it's pulling out of a mid-term slowdown. I think the economy is going to do fine and we’re going to make it through the inflationary period, without having to raise [rates] further.”