CNBC Stock Blog

This Market Offers Buying Opportunity: S&P's Sam Stovall

Share

Sam Stovall, chief investment strategist at Standard & Poor’s, told investors what to expect for the second half of the year and 2010. 

VIDEO0:0000:00
Checking Market's Pulse

“The economic growth projections are still fairly strong for China in 2010,” Stovall told CNBC. China is "likely to see a gain of more than 8 percent next year, compared to 7 percent and change for this year.”

Stovall said the market got a little bit ahead of itself and traders tried to take profits.

“But I think it’s offering more of a longer-term buying opportunity—maybe bringing the S&P down to about 950 before it turns around,” he said.

We’ve been seeing a slower decline in the market, said Stovall and told investors to expect earnings to trough in 2010.

“[But] we’ll be spelling out the recovery without a ‘V’—certainly not an upper case V, and we’ll start to see some revenue start to inch higher,” he said.

CNBC Data Pages:

______________________________

Disclosure:

No immediate information was available for Stovall or his firm.

______________________________
CNBC Slideshows:

______________________________

______________________________
CNBC's Companies in the News:

NewsCorp.

Research in Motion

BB&T

  • Colonial Bank Shut by Regulators; BB&T Buys Assets

______________________________

Disclaimer