Stocks recovered from a lower start on Tuesday as consumer confidence hit its highest level in eight months. Getting the market off to a jittery start after the three-day weekend, the decline in Case-Shiller housing pricesshowed no signs of letting up. Read and listen to what the experts had to say...
S&P Over 1,000 by Year-End
Steve Auth of Federated Investors said he expects the S&P to climb over 1,000by the end of the year. He said the economy has already bottomed and that the U.S. could produce a positive GDP in the second quarter.
Green Shoots Could Turn Into ‘Tumble Weeds’
“The green shoots could turn to tumble weeds later on, but I think it’s important to draw the distinction between where we are now and where we are likely to be in the next two years,” said Michael Darda of MKM Partners. He said investors should take a bullish stance in the 18 months.Financial Assets Over Real Assets
Former Merrill Lynch Chief Investment Strategist Richard Bernstein said he is a bigger fan of financial assets than real assets. “I’m not particularly worried about inflation because of this huge excess capacity that you have in the global economy right now,” he said.
Joe Petrowski of Gulf Oil said the recent strength in oil and gas prices is driven by the weak dollar, economy and demand. He said small gas retailers are especially hard hitand as a result, have to rely more on strong inside sales and selling non-petroleum goods.