Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Buy on High?

Details

  • Description

    David Joy of Ameriprise Financial gives his outlook for the markets.

  • Duration 3:35
  • Date

Clips

Also in this playlist...

Latest Investing

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- -- -- despite being in their read today the Dow and S&P are both up more than 6% so far this year but my next guest says stocks just reasonably priced -- it's not a time by David -- Chief market strategist from -- -- financial.

Joins us David -- it's great to see used to rethink the markets -- Well I think by the end of the year I didn't expect to see -- may be close to 16100 or so the beginning of the I was a little bit light on that may be around 1550.

But we've come out of very.

Start of the New Year's so robust I think that 16100 is easily within reach.

Economy's getting better earnings look like they're going to growth fed very accommodative.

And if we can just get beyond some of these.

Political uncertainties in the weeks ahead.

I think the economy's going to be ultimately growing at -- run a two and a half percent pace that should be pretty good -- stuff.

OK -- two things are not worried about the negative fourth quarter prints.

That we had a little earlier and a pullback today this forty point doesn't on the Dow doesn't really concern you all of that much how would you.

Strategize -- -- at around sort of that the political scene in Washington sequester coming up march 1 you be buying right now.

Well I would not be buying quite yet ice I'm still expecting a little bit of a pullback -- thinking may be something in the lines of you know 23 to 5% at the most.

We haven't gotten it the market seems to continue to want to go higher but.

I think -- we get closer over the next couple weeks to the sequester kicking in and I expect that it will.

I think that's gonna be a little bit of -- a headwind for the markets ultimately I expected maybe they'll.

Do something to avert the worst of the cuts but it while that's being debated.

You know I expect markets -- a little bit short.

-- and it when it's time to dive -- let's -- hopefully get a little more clarity after that it's after he's deadlines in Washington what.

Industries in particular would you be most interested in.

Well yeah I think that within the global economy is in the early stages of of an upturn here so I think you wanna build -- a little must occur -- in your portfolio.

You know it's been the defensive categories in dividend payers that have been really build the best place to be in the past I think going for that leadership is going to change so.

You mentioned earlier the financial particularly the banks they look good to me -- industrials do as well.

Technology I think he's an interest in money if you back out apple tech is actually doing well I think there's more to go itself.

A little more economic sensitivity I think is the way -- do it.

-- worth mentioning that apple -- two and a half percent yesterday C think apple stories distant.

Apple unique -- -- industry -- technology Bellwether.

No I don't I think it being -- you backing out I'm not mistaken tech is actually doing better than the broader market so.

I think there's a lot of pent up by demand for.

Particularly in the enterprise side.

For.

An upgrade cycle that hasn't happened yet companies just still reluctant to spend.

But I think that's gonna loosen up in the second half of the esoteric looks good debate did -- any idea after listening to the -- the union last night in a natural gas was mentioned any investment ideas once again.

Just listening I I have to.

I have to say I was actually encouraged by that mention particularly.

When the president indicated that you know that the licensing process needs to -- -- as speeded up.

I think that's terrific because so obviously we have an abundance of it -- seems to -- more than enough to satisfy domestic needs I'd like to see is accelerate.

Approval to a build some -- GF facilities for -- Pipelines domestically I think dole odd stories -- extraordinary one and I'm glad to see the president at least gave it a little bit of a nod goes to our -- from -- Thank you David -- it's a pleasure.

Load More