'Powerful' 17% S&P Growth in 2010: Equity Strategist Phil Dow
Stocks held minor gains Monday, after reports showed that consumer spending stayed even but US manufacturing grew in February. What's ahead for markets?
Phil Dow, director of equity strategy at RBC Wealth Management, and Alan Lancz, president of Alan B. Lancz & Associates, offered their insights to CNBC.
"This is what we're going to see in 2010: two steps forward, one step back," Lancz said.
"You'll have to be a nimble investor and look outside the box to make money in 2010. I don't see significant progress through the rest of the year."
Dow was a bit more optimistic.
He conceded the prevalence of "threatening and scary headlines like earthquakes...central banks' problems over in Europe."
But, Dow maintained, one must balance the problems against "the positives":
"There's a powerful subplot developing versus the anxiety: earnings estimates going up, economic growth rates going up. That leaves room for upside."
He called for 1300 on the S&P, or "roughly 17 percent [growth] for the year." (Where's the S&P Now? Real-Time Index)
Strategist Tracker: What They Said Last Time
- Lancz' Last Appearance (Feb. 5, 2010)
- Dow's Last Appearance (Feb 11, 2010)
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Disclosure information was not available for Lancz, Dow or their respective companies.