US Markets

'Panic is starting to set in' about missing the rally, expert says

Santoli: More interested in S&P 500 getting to 2,270

People are becoming afraid they are missing out on the rally, and that's "tremendously supportive" to the stock market, investing expert Michael Yoshikami told CNBC on Wednesday.

"Panic is starting to set in," the founder and CEO of Destination Wealth Management said in an interview with CNBC's "Closing Bell."

"We hear it from investors all the time. They were incredibly frightened going into the market. Now after a month or so people wonder, 'What do I do now? The market's rallied. Looks like there's going to be lower taxes.' So I think that's an important consideration forward in 2017."

The stock market has been moving higher since President-elect Donald Trump's victory in November. However, certain sectors sat out the rally.

Now, many of those stocks, like health care and big tech, are coming back, Yoshikami pointed out.

"I think it's a huge positive for the market that you're starting to see a broader rally," he said.

Stephanie Link, managing director and active equities portfolio manager at TIAA Global Asset Management, also thinks the broader rally is healthy for the market.

"I think 2017, the narrative is better growth, better earnings growth, higher interest rates, stronger dollar," she told "Closing Bell."

She also believes stock picking and sector picking will be a lot more important than it has been in the past.

Closing Bell Exchange: Bullish signs for continued rally?

Keith Bliss, senior vice president at Cuttone & Company, thinks the major averages are in neutral right now. However, he doesn't anticipate a big sell-off after Trump's inauguration at the end of the month like some investors are anticipating.

"I just can't see anything that's going to shake us out of this. We've been moving sideways, edging higher, and I see that trend continuing, again, right into January 20 and beyond," he said in an interview with "Closing Bell."

And if there is big news around tax cuts, regulation and health care, he sees that powering the market higher.

Plus, money is still flowing into financials, industrials and consumer noncyclicals, Bliss noted.

"That is a very bullish sign for a run to continue," he said.

U.S. stocks closed higher on Wednesday, with the Dow Jones industrial average ending within 100 points of 20,000.