S&P to Reach 1,200 by Year-End: Chief Investor
Stocks wavered Wednesday after a batch of weak economic reports. Should investors brace for a pullback?
Andy Bischel, CIO of SKBA Capital Management and Ron Carson, CEO and founder of Carson Wealth Management discussed their insights.
“Short-term, we could make a move and we’d move more into advanced mode—but we’ve got an eye toward the decline,” Carson told CNBC.
Carson said he is primarily concerned over the structural debt issue that will “take some time to deleverage.” (See Carson's investment plays, below.)
In the meantime, Bischel said he expects the market to break out and reach the 1,200 level on the S&P by year-end.
“We’ve been through the worst news flows that we can see and we’re not headed for a double-dip,” he said. “And you [may get] the surprise that the tax cuts can get extended—that would be an enormous positive surprise for the market.”
(Does the housing market contradict Bischel? Read and decide:Home Price Double Dip Begins: Olick)
iShares MSCI Brazil Index
Scorecard—What They Said:
- Bischel's Previous Appearance on CNBC (May 10, 2010)
- Carson's Previous Appearance on CNBC (Jul. 28, 2010)
Market Views—Across the Board:
- Volatility Index Signals Pullback: Strategists
- Art Cashin: Market Is Overbought; Tests 1125-1135
CNBC Data Pages:
CNBC's Companies in the News:
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No immediate information was available for Bischel or Carson.