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CNBC News Associate
Stocks rallied Friday after the latest employment numbers showed signs of a stabilizing job market. The Labor Department report showed 247,000 jobs were cut from nonfarm payrolls last month, less than the 320,000 expected, and the prior two months were revised to show 43,000 fewer jobs were lost from payrolls than first reported. Read and listen to what the experts had to say...
Equities in 'Sweet Spot'
Equities are in a sweet spot now and conditions are set for equities to rise, said Peter Elston, at Aberdeen Asset Management Asia. “Looking at where we are in terms of equity markets, it seems that things are very conducive to rising equity prices,” he said.
Counterpoint:
Rally Getting Overbought
The rally has become quite overextended and markets are generally overbought, said Steven Mayne from Falcon Securities. He suggests investors begin reducing long exposures. “But it doesn’t necessarily mean we should start to short the markets straight away.”
Small Consolidation for Stocks Coming
It's been a "good run" for the market but it is looking a little overbought, said Mike Lenoff from Brewin Dolphin Securities. He sees a little bit of consolidation coming, “but the underlying support is there.” “After a brief period of consolidation, the markets will move upwards again,” he said.
Don’t Invest in the Banking Sector
Duncan Weldon from Senhouse Capital said he is not investing in the banking sector as he doesn't see loan defaults peaking until "maybe a year after the economy starts growing again."
Investors Should Be Optimistic
Josh Rosner of Graham Fisher & Co said he is optimistic about the economy. “We’ve got a lot of stimulus programs in the works and a lot of stimulus spending that’s still ahead of us,” he said. “We’ve got a couple of good tailwinds, including psychology helping consumer spending at this moment.”
Employment Numbers Point to Recovery
The employment trend is improving and that’s what we need to see, said David Spika of WHG Funds. “We eventually need to see job gain to drive economic growth, to drive earnings growth and continue the market rally," he said. "I think it’s clear that the economy is in a recovery. We’re out of the woods in terms of that great depression 2 scenario that everyone feared a few months ago.”
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