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Market to Rise 10% in First Half of 2010: Strategist

Markets rose on Monday, with retailers ringing up gains after a report showed the holiday-shopping season was better than expected. Roy Williams, CEO of Prestige Wealth Management and Doug MacKay, president and CIO of Broadleaf Partners shared their market outlook for next year and where investors should put their money in 2010.

“The markets in the first half of the year will be very positive,” Williams told CNBC. “You have consumers starting to spend again, corporations that have great balance sheets outside of the financials and you’ll see capital spending there.”

Although there may be volatility in the markets, Williams said he expects the markets to head higher in the first half of the year by 10 percent.

MacKay said the deeper the recession, the bigger the market rebound and added that he is bullish.

“It makes sense to have the cyclical trade on and not focusing on defensives like staples and health care,” he said. “I would be moving past the early cyclical plays like the consumer discretionary space and more toward later cyclical plays such as energy, industrials, and materials—the reflation trade."

"If we do see the economy improving and employment improving and consumer improving, where you want to be is the later stage cyclicals,” he added.

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Disclosures:

No immediate information was available for MacKay or Williams.

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