Kim Caughey, senior equity analyst, Fort Pitt Capital Group, told CNBC’s “Morning Call” that the equity market is riding a strong economy to new highs.
“Basically, the economy is doing just fine,” Caughey said Friday. “We have full employment and that’s what causes consumers to spend -- not whether or not their house value is going up. We’re looking at the industrials leading the way in employment. Manufacturing jobs are among the best and industrials are doing very well right now.”
She said there are weak spots in the U.S. economy, including automotive and housing construction, but she likes infrastructure plays and looks three to five years out for investments.