Stocks wavered on Wednesday as investors sifted through a mixed bag of earnings and a drop in durable-goods orders. Joseph Duran, chief executive and co-founder of United Capital Financial Partners, and Ron Carson, chief executive of Carson Wealth Management Group, discussed their market outlooks.
“We’re going to continue to have these manic moments, but eventually we’re going to break out of the range to the downside,” Carson told CNBC.
Carson said the S&P 500 will trade in a range of between 950 and 1,250.
“We think it should be traded, buying at 1,000 and selling at 1,200,” he advised. “You’re going to have to rotate and go to areas that are out of favor.”
In the meantime, Duran said markets are in the midst of a “generational bear market” and recommended that investors look into high-quality corporate bonds and equities.
“The emerging markets are where the growth really is—you want to invest in companies that invest in areas that are really growing,” he said.
Scorecard—What They Said:
- Carson's Previous Appearance on CNBC (Jun. 7, 2010)
- Duran's Previous Appearance on CNBC (May 26, 2010)
Market Views—Across the Board:
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No immediate information was available for Carson or Duran.