×

S&P to Reach 1,100 by Year-End: Strategist

Sean Clark, chief investment officer of Clark Capital Management and Robert Loest, portfolio manager at Integrity Growth & Income shared and discussed their opposing market outlooks.

“We think the market is in a pretty good position,” Clark told CNBC.

“As we expected, the markets had a bottoming process that started in October and November that lasted until March.” (Watch the video for the full interview.)

Clark thinks the economy will stabilize and improve in the second half of the year, saying markets should eventually reach 1,100 on the S&P.

However, Loest said based on the lack of the market’s ability to fully discount economic factors, this is “still a risky market.”

“I think that any 40 percent run means we have a lot of risks short term,” he said. “People have gotten hopeful in the last two months, but now we have a sudden acceleration in consumer loan defaults and credit card defaults...I’m really leery about the market’s ability to discount things fully."

Disclosure:

No immediate information was available for Clark or Loest.

______________________________

______________________________
CNBC's Companies in the News:

Goldman Sachs

Fifth Third Bank

  • Fifth Third Plans Stock Offer to Plug Stress Test Gap

GMAC

Xerox

______________________________

Disclaimer