Markets to Rise on Increased Business Spending: Ted Parrish

Markets rose on Wednesday, despite news of an unexpected drop in new home sales. What should investors expect from markets going forward? Ted Parrish, co-portfolio manager at Henssler Equity Fund, discussed his insights.

“Earnings season has been fabulous and we’re seeing more and more data that business spending is picking up and companies are going to start expanding,” Parrish told CNBC.

Parrish said he expects the market go higher.

“If you look at reports from Texas Instruments, Hewlett-Packard and even WholeFoods, we’re seeing some expectation of expansion in the future, so that’s good for the markets,” he said.

“And I think that will continue throughout the year.”

  • Watch Parrish's Previous Appearance on CNBC (Jan. 14, 2010)

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No immediate information was available for Parrish or his firm.