The S&P will hold at the 1,000 level as we’re finally starting to exceed some of the “horrible expectations” from analysts, said Michael Yoshikami, president and chief investment strategist at YCMNET Advisors.
“We certainly need to see topline numbers come in better—we can’t just keep going up based on expenses being cut—but I think we’re looking pretty solid here,” he told CNBC.
In the meantime, Yoshikami said, the housing market is close to a bottom, which will be beneficial to banks.
“If the banks are healthy, then it gives us a good foundation going forth in the market,” he said.
Investors should buy international companies and expect slower GDP growth in the U.S., said Yoshikami.
“You need to be global—half the companies we invest in are international assets—and of all the companies we invest in, half of the money comes in from international revenue,” he said.
“And I still do think that there's capital to be made in the corporate bond play—not just for long-term."
Yoshikami also told investors to keep an eye on commodities as an investment.
“Don’t forget commodities—if global growth reemerges, commodities will be a good place to be,” he said.
More from Yoshikami:
No immediate information was available for Yoshikami or his firm.
CNBC's Companies in the News:
Google's Schmidt Resigns from Apple's Board
Microsoft's Bing Gains Another 1% of U.S. Search
HSBC Profit Halves to $5 Billion as Bad Debts Jump