U.S. stocks lower Friday with weak new home sales numbers pushing the three major averages down.
Two market strategists remain positive on U.S. stocks.
Chris Bertelsen is Chief Investment Officer with Global Financial Private Capital. He says once the summer doldrums pass he expects the market to "resume its climb toward 19,000 on the Dow Jones Industrial Average, to 2,300 on the and 5,500 on the Nasdaq."
Ernesto Ramos, is portfolio manager of the four star Morningstar rated BMO Large Cap Growth Fund at BMO Global Asset Management.
He says he is positioned for U.S. strength and underweight more globally exposed companies.
Bertelsen goes on to say the biggest catchy phrase is "learning to love what you hate. Start picking off all the peak margin, peak P/E, peak P/S, zero growth American blue chippers," says Bertelsen, "especially as activists or even better new CEO's enter the fray. The poor performance of stocks like IBM and Coca-Cola are crying out for restructure [creative destruction]. We have seen that already with major pharma like Merck and Pfizer. Shrink to grow."