Stocks turned mostly positive Friday, as investors absorbed the meaning of a surprising surge in payrolls in the wake of the Fed's plans to pump more money into the economy. David Katz, chief investor at Matrix Asset Advisors, and Don Schreiber, founder, president and chief executive of WBI, discussed their market outlooks.
“We’re far less concerned with how the market reacts today [to the unemployment report], but it sets a stage for a good end to the year and a good beginning of 2011," Katz told CNBC.
"There has been a high correlation between the jobs trend and the stock market.”
Katz said he expects the trend to improve over the next year.
Meanwhile, Schreiber said he is in favor of dividend investing.
“We get to collect the source of return that isn’t correlated with the direction of the price of the stocks,” he explained. “So we can bank on that return from dividends.”
Based on good fundamentals, Schreiber said he expects the market to move higher.
“We’re getting some improvement in the underlying economy and it’s showing up in the corporations’ numbers. We look for good, strong dividend plays.”
Katz Likes:
Morgan Stanley
Staples
Zimmer Holdings
Schreiber’s Picks:
BlackRock
Intel
Schulman
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Scorecard—What They Said:
- Katz's Previous Appearance on CNBC (Nov. 4, 2010)
- Schreiber's Previous Appearance on CNBC (Sept. 24, 2010)
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More Market Advice—Read and Decide:
- Reposition for 'January Bounce': Stock Picker
- Low VIX a Long-Term Warning for Markets: Strategist
- 5 Sectors Most Likely to Rise: Strategists
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CNBC Data Pages:
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CNBC Slideshows:
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Disclosures:
No immediate information was available for Katz or Schreiber.
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