Market 'Rubber Band' to Drive Up Stocks: Fifth Third's Billeadeau
The equity markets turned positive Wednesday and Thursday, and some analysts believe it is a sign of things to come. One such analyst is Scott Billeadeau, director of small and mid-cap growth strategies at Fifth Third Asset Management.
"I think the rubber band was pulled so tight, that just a couple of positive data points, and you're going to have people buying equities," Billeadeau told CNBC.
With interest rates at record lows and earnings at all-time highs, he expects equities to rally at the first sign of good news.
"If the economy's growing even 1 to 2%, profits are going to continue to grow," he said.
Billeadeau expects the market to grind higher into year-end, as cautious investors sitting on the sidelines begin to reinvest their cash in equities. "It's going to be slow, but I'm very bullish," he said.
Billeadeau likes the following stocks:
Ulta Salon Cosmetics
CNBC Data Pages:
Disclosure information was not available for Billeadeau or his company.