Stocks fell on Thursday as a stronger dollar weighed on the market. Ronald Weiner, president and chief executive of RDM Financial Group, and Sarat Sethi, partner and portfolio manager at Douglas C. Lane & Associates, offered their market outlooks and investment picks and pans.
“It looks like the market’s getting tired,” Weiner told CNBC.
“The volume’s not really there on the upside. So what we’re looking at is a pullback of maybe 5 to 10 percent."
"The global economy is going to outdistance the U.S. going forward, so I think it’s going to be okay—but it’s not going to be that great for the U.S.”
Weiner said the growth for the next few decades is going to be in the emerging markets.
“There are plenty of U.S. companies that will feed on that. ...Stick with the emerging markets going forward,” he said.
Sethi agreed that certain sectors and stocks cool off from the recent rally.
“The market in some of these areas is pricing in a strong recovery, for example in some of the industrials, retail, restaurants,” he said. “But those are more stabilization areas. And when you price in recovery, you’re going to [see] sell off.”
Sethi's Recommendations:
Sethi likes technology, consumer staples and companies that grow topline.
He is cautious on consumer discretionary names.
Weiner's Recommendations:
Weiner likes tech, energy, industrials, basic materials and companies that "feed the emerging markets."
His stock picks: Dow Chemical, Anadarko Petroleum, Qualcomm, Google.
He advised investors to avoid REITs, utilities and consumer discretionary stocks.
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CNBC Data Pages:
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Disclosures:
Weiner and his family members own shares of DOW, APC, QCOM, GOOG.
No immediate information was available for Sethi or his firm.
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