Stocks declined on Friday as investors shrugged off a surge in consumer sentiment, instead focusing on the fact that consumers are saving their money at a feverish pace. In another encouraging sign for the economy, KB Home reported a wider-than-expected loss but said that the housing decline is moderating. So are the “green shoots” back? Experts discussed the above and more…
US Markets to Start Stabilizing
"The equity markets are going to start stabilizing here. And again, I think there's a lot of promise right now coming out of those economic forecasts over the next 30 days," said Michael Gurka of First Street Capital Partners.
- S&P May See Correction to 830-875
Fed Did What Markets Wanted
"The Fed did what the market wanted it to do," said Neil Mackinnon of ECU Group. "The Fed is clearly monitoring the state of the economy. But it's still a very mixed pictureand I think they were right to keep interest rates unchanged."
Oil to Fall; Emerging Markets to Outperform
"The market is going to do well here, while the economy is going to struggle a little," said Michael Gurka of First Street Capital Partners, adding he feels a lot better about the US market than the US economy. He said he sees energy "topping off shortly" and emerging markets outperforming.
Market Momentum Will be Fine
“The market is doing ok and its momentum is going to be fine,” said Robert Brusca of Fact and Opinion economics. “You have good fundamentals for this economy and I think the important technical figure is still in good shape,” he said.
Pelosi Pushing for Climate Bill Vote
The House is set to vote on a climate bill Friday that is expected to create huge challenges to energy companies. Jack Gerard of American Petroleum Institute said he expects the votes to be close. “My expectation is that [Pelosi] has the votes,” he said. “[But] over the last couple of days a lot of major groups have come up in opposition to this bill.”
CNBC's Companies in the News:
- GM Says Bankruptcy Sale Delay Would Kill Suppliers
- UBS To Raise Capital, Sees Second-Quarter Loss
- Japan Orders Citi To Suspend Some Business