Markets rose on Friday on solid earnings reports from Disney and JCPenney. Joseph Keating, CIO of private asset management at RBC Bank, shared his market insight.
“We believe the economy has begun to expand,” Keating told CNBC. “It began in the third quarter and we think it will be a gradual recovery.”
However, Keating said the potential for a V-shape recovery in earnings is “very plausible.”
“So we think the market moves higher—we wouldn’t chase it, I’d average some money into the market, but we think it moves higher,” he said.
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No immediate information was available for Keating or his firm.