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CNBC News Associate
We’re likely going to get a market correction, said Rob Morgan, market strategist at Clermont Wealth Strategies, and Sam Stovall, chief investment strategist at Standard & Poor’s.
“The average is about a 15 percent pullback, which would bring us back to 800 to 825 [on the S&P 500] before I can breathe a sigh of relief and believe we’re headed higher again,” Stovall told CNBC.
Second Opinion:
Stovall said he prefers stocks over bonds, small caps over large caps and cyclicals over the defensive areas.
Morgan said he also expects a market pullback and prefers stocks to bonds.
Recommendations:
Stovall Likes:
Technology
Energy
Stovall said he is cautious on consumer discretionary and industrials.
Morgan Likes:
Materials
“We’ll probably get more bullish on energy soon—it’s not quite at where we want it to be,” said Morgan.
Disclosure:
No immediate information was available for Stovall or Morgan.
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Top Technology Stocks:
Microsoft [MSFT
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Intel [INTC
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Apple [AAPL
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Google [GOOG
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