Stocks slipped Friday after a disappointing jobs report heightened expectations that that the Federal Reserve will pump more money into the financial system—action known as quantitative easing—to help spur growth. Arthur Hogan, director of global equity products at Jefferies, shared his insights.
“I think the market has priced in some level of quantitative easing coming into the November meeting,” Hogan told CNBC.
Hogan said the Fed will likely decide during its November 2-3 meeting whether the economic conditions either warrant or don’t warrant more quantitative easing.
“The fact that we’ve priced it in is probably a dangerous thing,” he said. “So we’re going to have a combination of mid-term elections and the Fed meeting that may or may not disappoint the market.”
As for stock picks, Hogan said he likes the tier-one suppliers in the solar industry, and favors Trina Solar.
Scorecard—What He Said:
- Hogan's Previous Appearance on CNBC (Oct. 1, 2010)
More Market Opinions—Read and Decide:
- Recovery Is Intact—So Invest Here: Stock Pickers
- It's a 'Wonderful Time' to Be in Stocks: Chief Investor
- Why Markets Will Continue Rallying This Month: Strategist
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No immediate information was available for Hogan or his firm.
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