Stock were mixed Thursday after a surprising jump in weekly jobless claims was balanced by news existing home sales rose 7.6 percent in August, and that the index of leading indicators gained 0.3 percent, more than expected. Adam Bold, founder and chief executive of The Mutual Fund Store, and Phil Dow, managing director at RBC Wealth Management, shared their market outlooks.
“If you’re going to [wait on] a domestic recovery you’re going to miss the boat—the global story is the larger one,” Dow told CNBC.
He said that, based on railcar and freight capacity levels, now is the time for investors to be owning stocks.
“The sweet spot in the market is the blue-chip companies with global markets that pay a growing dividend,” said Dow.
In the meantime, Bold said the mid-term elections will serve as a catalyst for stocks to rise by year-end.
“The reality is the economy is getting better and corporate profits look really good,” he explained.
Bold’s Fund Favorites:
Marsico 21st Century
Royce Low Priced Stock Svc
Dow's Fund Favorite:
Vanguard Dividend Appreciation ETF
Scorecard—What They Said:
- Bold's Previous Appearance on CNBC (Aug. 11, 2010)
- Dow's Previous Appearance on CNBC (Jul. 26, 2010)
More Market Views—Across the Board:
CNBC Data Pages:
Dow owns shares of VIG.
No immediate information was available for Bold or his firm.