Stocks are rallying on the first trading day of the new year, so will the trend continue throughout 2010? Jason Trennert, chief investment strategist and managing partner at Strategas Research Partners, and Kelly Campbell, founder and principal of Campbell Wealth Management, shared their market outlooks.
“We’re going to see some great things in 2010, but we still have to be cautious,” Campbell told CNBC. “A lot of people are looking for the market to do well, but if it does too well, it could fall back a little bit.”
Campbell warned that the US government may change interest rates, which could be negative for the markets.
“A lot of people are going to be cautious at the end of the year, but I think we’ll still end up at a very positive point,” he said.
In the meantime, Trennert said he expects markets to be higher in the middle of the year than at the end.
“I have a good feeling that the things that were in place that propel the market off the March low—0 percent interest rates, fiscal stimulus—a lot of those are going to still be in place in the first half of the year, maybe a little bit less than the end of last year, but I think the problem is that eventually the bill has to come due,” he said.
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No immediate information was available for Campbell or Trennert.