Anderson said it’s getting harder to excite investors even after earnings have consistently beaten expectations and companies are seeing topline growth.
“Now, we need jobs growth to keep this market going higher,” he said.
In the meantime, Landesman said the markets are trading in a “tight technical range” on the S&P 500.
“We’re between 1,183 and 1,230 and we’re going to hold near 1,183, bounce around that range, and then possibly go as high as 1,275 to 1,300 before settling a little bit,” he said.
The U.S. recovery is doing “very well” and earnings have continued to surprise to the upside, he added.
However, Landesman cautioned that there are some “very serious long-term structural issues” that the U.S. will have to deal with in terms of budget deficit.
“Government spending is going to have to start being constrained somehow and we’re going to have to gradually absorb some of that with real demand from the enterprise and from consumers,” he said.
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No immediate information was available for Anderson or Landesman.