GO
Loading...

Markets to Peak in Late January: Strategist

Markets opened lower on Friday and Marc Pado, U.S. market strategist at Cantor Fitzgerald, speculated investors will be taking in profits ahead of the three-day weekend. What should we expect going forward? He shared his market insight.

“We’re headed into a strong earnings season, we’re moving higher,” Pado told CNBC.

“We expect to reach some sort of peak in the last week of January and then we’ll be set up for a correction.”

Pado said the markets have rallied for 10 months and now may see a “substantial pullback.” He added that high unemployment rates will also be a catalyst for bringing the market lower.

“In the near-term, you do have to go to the defensive stocks and then we’re looking for a shift to technology back in the summer, because technology really is leading the way and will continue to lead the way in the long term,” he said.

  • Watch Pado's Previous Appearance on CNBC (Dec. 24, 2009)

______________________________
More Market Views:

______________________________
CNBC Data Pages:

______________________________
CNBC Slideshows:

______________________________

______________________________
Top Tech Firms:

Google

Microsoft

Intel

Dell

Apple

______________________________
Disclosures:

No immediate information was available for Pado or his firm.

______________________________

Disclaimer

Symbol
Price
 
Change
%Change
TECHNOLOGY
---
4331
---
INTC
---
MSFT
---
AAPL
---
GOOGL
---

Featured