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Stocks have been a moving on every word from Washington and as a result my next guest says it is a traders' market but she also says it's -- to look underneath the headlines to get a true sense of just how the market and economy.
Performing joining me now is Quincy Crosby Prudential Financial market strategist appreciate your being here and how are we doing I think that a lot of people are worried about -- slowdown in retail sales because of bad holiday shopping.
Season are we headed toward recession is that what -- are getting at here.
No in fact I -- -- that the idea ever recession is is different called you know it could take a year to decide.
Whether or not we've actually gone into recession and then usually when they make the decision were out of the recession.
But the fat did you still housing strong.
You still autos strong.
And still are very important engines for the economy.
And as law is they stay strong -- don't start slowing down dramatically we probably haven't not and not energy.
To keep going but I can say that's.
That is this becomes really messing with the -- -- Americans across the country are beginning to realize how it's going to affect them and I think that's why you saw the slowdown in spending.
Of this economy fifteen plus trillion dollar economy is consumer spending.
If we start pulling back along with small business owners we could push ourselves off into that recession.
I -- I'm sure all of us hope we avoid that let me ask you who's performing well who.
-- assuming that we are headed for problems where do you put your money.
Well you know what we still like the dividend paying stocks we like the very largest cap stocks.
The dividend paying stocks even though they may take a hit it will probably be a buying opportunity.
We like companies that that have good -- -- share globally especially if China starts to grow a little bit.
And we also like some of the European companies that were beaten down.
Particularly the large cap that we'll take advantage.
The emerging markets China perhaps moving up we like anything associated with housing.
And they've been performing very well even on days when that that market has been selling off you can see there's still strength there.
But the warning as if we go off says everything is subject to -- sell off.
Perhaps more by.
Hunting Quincy Crosby Prudential financial markets strategists in Boston unfortunately I think the fiscal cliff negotiations are moving his steadily is rush hour traffic on -- drive in Boston which can be -- nightmares so you have.
A good new year and let's hope they get a deal done all the best to you yeah I have I thank -- -- it is.
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