Stocks opened higher on Tuesday as investors focused on earnings and shrugged off a downgrade on Portugal. Dan Genter, president, CEO and CIO of RNC Genter Capital Management and Tommy Williams, president of Williams Financial Advisors discussed their market outlooks.
“Over the short term, it looks good—buyers are showing up that weren’t there for the last few weeks,” Williams told CNBC.
However, Williams warned that crosswinds such as government debt, financial reform and regulatory issues may cause investors and traders to pull back.
“So I think we’re going to trade in a range,” he said. “But right now, in the short-term, it looks really exciting.”
In the meantime, Genter said the near-term catalyst will mainly be earnings.
“The numbers overall should be very good, but my only concern is what we’re going to see in guidance,” he said. “We might see a little cold water thrown on the expectations with regards to future-looking guidance, but in the short-run and long-run, earnings is going to be our savior.”
Scorecard—What They Said:
- Genter's Previous Appearance on CNBC (Jun. 30, 2010)
- Williams' Previous Appearance on CNBC (May 10, 2010)
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Genter, his family and firm own shares of ORCL, INTC, CSCO, TEV and ABT.
No immediate information was available for Williams or his firm.