Markets Will Continue Rallying: Strategists
Stocks are poised to end a strong September with more gains Thursday, after new reports on unemployment claims, economic growth and manufacturing topped expectations.
Brian Gendreau, market strategist at Financial Network, and Jeffrey Phillips, CIO of Rehmann Financial, discussed their outlooks.
“The market does tend to rise before the mid-term election and that’s part of what we’re seeing here, just because there’s more information,” Gendreau told CNBC.
Gendreau said he expects stocks to continue rising following the elections.
In the meantime, Phillips said money flow into funds is starting to pick up.
Tax Policy Concerns?
“We continue to see opportunities overseas and in emerging markets, but domestically, we’re also starting to see some more dispersion as the securities that compose the major indexes start to move in greater directions than just the index.”
Phillips said certainty regarding tax policy will be key to keeping the rally going.
“I don’t know if the market is concerned about which tax policy, they just need to know which direction to go,” he said.
Scorecard—What They Said:
- Gendreau's Previous Appearance on CNBC (Aug. 2, 2010)
- Phillips' Previous Appearance on CNBC (Aug. 23, 2010)
More Market Analysis:
CNBC Data Pages:
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No immediate information was available for Gendreau or Phillips.