- Diving Partridge Demand Can't Keep Lid on '12 Days' Cost
- Tamminen: Copenhagen And Beyond
- Dubai is Harsh Reminder of Prolonged Global Recovery
- Tiger Woods Wants to Protect Family Privacy: Agent
- Portfolio Prep for Next Week: 'Don't Get Crazy'
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- White House to Expand Program to Stem Foreclosures
- Regulators Compile Global List of 'Systemic Risk' Banks
- Dubai Stocks Shed 7%, Abu Dhabi Tumbles 8%
- The World's Biggest Debtor Nations
- BofA Aims to Clearly Spell Out Credit Card Terms
- What Black Friday Shoppers Spent on – And Where
- Partridge Demand Slump Doesn't Offset '12 Days' Costs
- Dubai's Nakheel Seeks Suspension $5.25 Billion in Bonds
- A Weak IPO Debut for Las Vegas Sands' Macau Unit
MOST SHARED
- US Shoppers Spent Less Over Black Friday: NRF
- Dubai Stocks Shed 7%, Abu Dhabi Tumbles 8%
- Tiger Woods Wants to Protect Family Privacy: Agent
- Dubai's Nakheel Seeks Suspension $5.25 Billion in Bonds
- US Senator Opposes Fed Chief Bernanke Renomination
- South Korea Sees Exports Bouncing, but Risks Remain
- Japan Won't Intervene to Weaken Yen: Finance Minister
- Sands China Ends 10.2% Lower in Hong Kong Debut
- BofA Aims to Clearly Spell Out Credit Card Terms
Text Size 
The stock market soared Thursday on the backs of better-than-expected retail sales reports, but Thomas Atteberry, analyst and portfolio manager at First Pacific Advisors, told "Power Lunch" the rally "may not be sustainable."
Atteberry is "skeptical" about the market's rally, especially since retail sales numbers weren’t as low as people expected, despite “a lot of angst and a lot of concern about subprime lending, and the consumer in the defaults and delinquencies in real estate.”
“It’s hard for us to get excited that we think the consumer’s going to be the driver of the economy going forward,” Atteberry said. He expects the cost of gasoline, high-levels of credit card borrowing, and falling real estate prices to take a toll on consumer spending.
Reacting to these trends, Atteberry has reduced his exposure to financial service stocks and has taken on a "large" cash position.
He's wary of financial services stocks because the sector's growth has been driven by consumer lending.
“We look for consumer lending going forward to be a much more difficult place to be,” he said.
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- With Americans cutting back on spending, holiday tipping will take another hit this year.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
Data is a real-time snapshot *Data is delayed at least 15 minutes