Markets rallied Tuesday on some encouraging earnings reports, pending home sale data and Ford’s double-digit increase in sales. Where should investors be focusing? Robert Weissenstein, chief investment officer for Credit Suisse private banking Americas, shared his outlook on Washington, earnings, markets and more.
“Earnings have been coming in extraordinarily well,” Weissenstein told CNBC.
“We have almost 80 percent of companies who have reported so far, reporting above expectations. And of those, somewhere around 60 percent are reporting on revenue growth and not on cost-cutting, which is a real plus.”
Weissenstein said earnings are not yet priced into the markets; and despite the uncertainty from Washington, investors should be putting their money in equities.
“Right now, you can be in some of the larger cap companies that have global reach,” he said. “Technology—the earnings patterns are amazing.”
In addition, he recommended that investors look into commodity companies.
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No immediate information was available for Weissenstein or his firm.