CNBC Stock Blog
- 5 Stocks That Benefit from Health Care Legislation: Analysts
- 9 Stocks That Play Rising Water Costs: Strategists
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Rally Could 'Have Some Legs in 2010': Market Strategist
- Expect a 'Square Root-Shaped' Recovery: Chief Investor
- HP to Feed on Enterprise Spending Next Year: Tech Analyst
- How Stock Investors Can Play Holiday Travel
- 3 Growth Opportunities in Tech: Analyst
- Prep Your Portfolio for Next Week: Stock Pickers
- Global Growth Good for Portfolio: Stock Picker
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Gold Will Collapse Like Oil Did in 2008: Charts
- China Eastern to Complete Shanghai Air Buy by End '09
- Why Amazon Rules Retail
- US Home Prices Up 5th Month, 2nd Straight Quarter
- Weak Dollar Is Golden for Mining Companies
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- Wave of Debt Payments Facing US Government
- 5 Stocks That Benefit from Health Care Legislation: Analysts
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Nov. 23: Unusual Volume Leaders
- Help Wanted—Please Run $4 Billion University
- US Home Prices Up 5th Month, 2nd Straight Quarter
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- US Economy Mired in 'Form of Depression': Rosenberg
- Strong Banks, Weak Credit: Treasury Rethinks TARP
- Weak Dollar Is Golden for Mining Companies
- How Many US Consumers Will Shop this Weekend?
- GE Capital Losses May See Dramatic Fall: JP Morgan
- Galleon's Rajaratnam Denies Inside Trading Charges
- Holiday Guide to This Season's Smartphones
RSS FEED
Text Size 
CNBC News Associate
Stocks are taking a breather Monday, but the direction of the Dow toward 10,000 continues. How long will it be before the level is broken and what will that mean for stocks going forward? Craig Peckham, equity trading strategist at Jeffries & Co., and Michael Cuggino, president and portfolio manager at Permanent Portfolio Funds, shared their market and investment insights. (Scroll down for their stock and sector picks.)
“I think we’ll see [10,000] before the end of the year,” Cuggino told CNBC.
“We’re going to continue to see momentum in earnings growth in the third and fourth quarters and that’s going to propel stocks further.”
Cuggino said the markets may be in for a volatile ride since they have come a long way this year, but he believes economic trends are “ones of growth” and will propel markets to rally further.
Peckham agreed and said the Dow will reach 10,000 in a few weeks.
More Market Intelligence:
- Art Cashin: Why Stocks Are Weak
- Maria Bartiromo: What Investors MUST Watch
- 'Fast Money' Traders: Is Market Tone Turning Bearish?
“My bigger question is that when we see earnings results in the third quarter—the bar has been raised pretty dramatically and the expectation is for a much more significant improvement in the topline from corporate America," Peckham said.
"So it’s imperative that we have a real good sense of where expectations lie going into the third quarter, relative to stock prices.”
CNBC Data Pages:
Peckham said he expects the dollar to continue to be under pressure “as investors take on more risk and as the market reflects a continued pressure in the U.S. balance sheet for some time.”
Cuggino Likes:
Freeport-McMoran [FCX
Loading...
()
]
State Street [STT
Loading...
()
]
Air Product & Chem [ADP
Loading...
()
]
FedEx [FDX
Loading...
()
]
Peckham Likes:
S&P Technology
S&P Materials
S&P Energy
______________________________
Disclosure:
No immediate information was available for Cuggino or Peckham.
______________________________
CNBC Slideshows:
______________________________
______________________________
Data is a real-time snapshot *Data is delayed at least 15 minutes