How should investors play the ups and downs in this volatile market? David Kelly, chief market strategist at JPMorgan Funds shared his insights.
“There’s a lot of uncertainty,” Kelly told CNBC.
While valuations and earnings overall justify a higher stock market, Kelly said investors are refraining from jumping into equities because of the all the uncertainty.
“There’s political uncertainty out there as we approach the November elections, and that uncertainty’s not only holding [down] the economy, but also the markets.”
“We’d be long-equities and cautious in the bond market, but we have to see some evidence that the economy is picking up again,” he said.
Scorecard—What He Said:
- Kelly's Previous Appearance on CNBC (Jul. 6, 2010)
Various Market Views:
- Markets Will Rally Into Year End: Strategist
- JPMorgan Results 'Not a Good Number': Bove
- Cramer: Don't Wait for Recovery to Buy Stocks
CNBC Data Pages:
CNBC's Companies in the News:
- JPMorgan Profit Beats Forecasts
BP Says Critical Test on Blown Gulf Well to Start Soon
Apple to Hold iPhone Press Conference Friday
Discover Financial Services
Capital One, Discover Credit Card Defaults Fall
No immediate information was available for Kelly or his firm.