Stocks struggled Wednesday following a round of tepid jobs reports. Can the rally continue? Gordon Charlop, managing director at Rosenblatt Securities and CNBC market analyst and Joseph Greco, managing director at Meridian Equity Partners shared their outlooks.
“I don’t think [the rally] is going to stop, but it may slow,” Greco told CNBC. “I’ve been cautious of late, but I think we’re on a little bit of solid footing and that’s building a nice base.”
In the meantime, Charlop told investors to get on board ahead of earnings.
“We haven’t seen any major negative earnings guidance so there’s no weakness to suspect that we won’t meet expectations here ... and possibly exceed,” he explained.
“At 13 to 14 times earnings with zero percent interest, a lot of these companies are carrying wealth and dividends at 3 to 5 percent ... American equities continue to be a place to be," Charlop added.
Charlop expects the S&P 500 at 1,200 to 1,250 by year-end.
Scorecard—What They Said:
- Charlop's Previous Appearance on CNBC (Sept. 29, 2010)
- Greco's Previous Appearance on CNBC (Oct. 5, 2010)
More Market Intelligence:
CNBC Data Pages:
______________________________
CNBC Slideshows:
______________________________
CNBC's Companies in the News:
General Electric*
- GE to Pay $3 Billion for Oil Equipment Maker Dresser
Kraft
Johnson & Johnson
Crucell
- Johnson & Johnson Buying Crucell for $2.41 Billion
Costco
- Costco Profit Tops Views, but Sales Disappoint
______________________________
Disclosures:
No immediate information was available for Kotok or Smyth.
*GE is the parent company of CNBC and CNBC.com.
______________________________
