Why These Strategists Are 'Still Sanguine' on the Economy
The Dow has seen 11 triple-digit moves in the last 14 trading sessions. Should investors expect another volatile trading session ahead? Mike Holland, chairman of Holland & Company, and Joseph Quinlan, chief market strategist at U.S. Trust, shared their market outlooks.
“The global economy’s still expanding and U.S. growth is good,” Quinlan told CNBC. “You’ve got good demand coming out of the emerging markets so we’re still sanguine.”
Quinlan said he likes the large-capstocks and industrials. He told investors that this is a buying opportunity.
“Europe has problems and they’re going to be with us for a while, but they’re about 25 percent of the global economy—the other 75 percent is growing and accelerating so it will be an offset,” he said.
Because of this, “some of the German large-cap and French stocks are starting to look attractive,” Quinlan believes.
In addition, he said there are also opportunities in China.
“I like playing China vis-à-vis Hong Kong, Singapore and SouthKorea—they’re the ones that are going to benefit,” he said.
In the meantime, Holland said he is also optimistic about the economy.
“With all the craziness in Washington, Athens, it’s not enough to derail this nascent economic recovery, so the companies seem to be doing ok,” he said.
- Watch Holland's Previous Appearance on CNBC (May 12, 2010)
- Watch Quinlan's Previous Appearance on CNBC (May 10, 2010)
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No immediate information was available for Holland or Quinlan.