Markets jumped on Tuesday, but will the rally continue or should investors fear a further dip? Joe Battipaglia, private client market strategist at Stifel Nicolaus, and Marc Pado, U.S. market strategist at Cantor Fitzgerald, shared their market outlooks.
Battipaglia said he is invested predominantly in the large cap stocks and has some exposure to developing economies.
However, he is avoiding the developed economies in Europe as well as China.
“We’re concerned about the growth rate in the developed world as deleveraging is still an issue, capacity excess is still an issue, umemployment is going to stay at a high rate and rates of return are going to be a little lower,” Battipaglia told CNBC.
In the meantime, Pado said he is looking for a 10 percent pullback and doesn’t expect the Fed to raise interest rates until the economy gets back onto a sustainable track. (Counterpoint: Another 5% Dip — Then 'Great' Stock Market: Chief Investor)
“I do think the pendulum will swing towards an exit strategy in September, October,” he said.
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No immediate information was available for Battipaglia or Pado.