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Investment Pros Bullish on Stocks for '07, CNBC Survey Shows

Investment pros are bullish about the stock market next year, according to an informal survey by CNBC.

Many of the 19 top strategists and money managers surveyed are predicting as much as a 10% rise in the S&P 500 next year. Half say the index will hit 1550 during the year, while 22% believe it will hit 1600, the survey says.

Most think the Federal Reserve's next move will be a cut in interest rates, with a majority saying it will come no later than the second quarter of next year.

And most predict economic growth will slow in 2007, with just 17% saying it will be the same as this year.

Many are concerned about energy prices. Those surveyed predict that oil will be volatile next year but will average between $60 and $70 a barrel.

Where is the best place to park your money and make a profit next year? There's no consensus, but there are clear favorites.

Healthcare and financials tied as the favorite sectors, while energy and materials were expected to be the worst performers next year.

Most of those surveyed also expect the pace of private-equity deals will continue next year.