GDP Likely to 'Suffer' on Increased Taxes: Strategist
Stocks mostly fell on Friday as investors sorted through the latest batch of earnings. Can the July market gains continue? Steven Stahler, president of Stahler Investment Group, and Roy Williams, CEO of Prestige Wealth Management, discussed their insights.
“The market is going to trade in a range,” Stahler told CNBC. “In November, should we get a balance of power in terms of the elections, we’re probably going to see a bit of a relief rally.”
However, Stahler warned that if the tax increases kick in, US GDP is likely to “suffer” next year.
In the meantime, Williams said he sees market headwinds heading into the fall.
“But the markets overall this year are going to move forward and we’ll be up high single digits by the end of the year,” he said. “Eventually, the market will be based upon earnings.”
Scorecard—What They Said:
- Stahler's Previous CNBC Appearance (Jun. 1, 2010)
- Williams' Previous CNBC Appearance (Jun. 4, 2010)
Market Views—Across the Board:
CNBC Data Pages:
Friday's Dow Laggards (as of this writing):
No immediate information was available for Stahler or Williams.