With the Dow closing at its milestone of yesterday 14,000, the Nasdaq reaching 6 1/2-year closing highs, and the S&P soaring to record heights, investors anxiously await next week’s eight reporting Dow stocks and 168 S&P reports.
David Darst, chief investment strategist for Morgan Stanley Wealth Management and Georges Yared, CIO of Yared Investment Research, joined CNBC’s "Squawk on the Street" to discuss their views of the current market and what they anticipate in the next few weeks.
Darst felt bullish about the economy. "I think a pullback is very healthy, very called for," he said “But you have the big five horsemen: jobs, inflation under control, liquidity, M&A, and the global economy.” He predicted that the S&P can reach 1620 or higher this year.
Yared seconded Darst's bullishness, saying he believes the Dow will reach 15,000 at the end of the year. He looks forward to next week’s markets. “I’ll be interested in the 168 companies reporting next week,” he said, “especially Apple , since it’s on fire. (There is) so much momentum to the story and there are so many legs for growth.”
Darst and Yared both recommended the energy, healthcare and technology sectors, while Yared said to avoid housing markets for the rest of 2007 and even 2008, heeding to KB Homes’ earlier reports.