Stocks opened lower Thursday after weekly jobless claims rose unexpectedly, indicating the US economy's problems are far from over. Ethan Anderson, portfolio manager at Rehmann Financial, and Dan Genter, president, chief executive and chief investment officer of RNC Genter Capital Management, discussed their insights.
“We’re still going to be in a positive range of one and a quarter to one and a half positive GDP growth and that’s going to be enough to drive the topline,” Genter told CNBC.
Genter said although economic growth will be slower than expected, corporate earnings will come through and the S&P 500will eventually reach 1,250.
“You have to carry those horses that’s taken you here and you can buy on the weakness,” he said. (Scroll down to see Genter's stock picks.)
In the meantime, Anderson said investors are uncertain and nervous over what will happen when the $300 billion of stimulus dollars in the system starts disappearing next year.
“We’re either going to catch ourselves and keep on moving down the economic growth trail or we’re going to wobble and fall over on our sides,” he said. “Right now, people don’t know and we’re not getting clear signals.”
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Scorecard—What They Said:
- Anderson's Previous Appearance on CNBC (Jun. 3, 2010)
- Genter's Previous Appearance on CNBC (Aug. 3, 2010)
Market Views—Across the Board:
CNBC Data Pages:
No immediate information was available for Anderson or Genter.