Strong corporate earnings will continue to push share prices higher and allow the U.S. bull market to continue, many experts say.
And they say the volatile debt crisis in Europe won't really end up mattering all that much.
“It’s a little bit like yelling fire in a movie theater — it doesn’t mean the place is going to burn down,” says billionaire investor Ken Fisher.
Corporate earnings can surge more than 50 percent for this year and next combined, he told Bloomberg.
“The quality of earnings is exceptional. Earnings are coming in overwhelmingly above expectations. I don’t see any signs that will stop.”
Fisher recommends mining companies, computer makers and retailers.
A correction is certainly possible, experts say.
“I have been cautious since the third week of April, thinking that we were setting up for a correction of somewhere between 5 and 10 percent,” Jeff Saut, chief investment strategist at Raymond James, told Bloomberg.
“Greece, Goldman don’t change my long-term view at all. We’re in a profit cycle recovery. Profits are exploding at the biggest ramp rate in decades, and we’re playing to that tune.”
The Federal Reserve’s determination to keep interest rates near zero also buoys stocks.
"It kind of tells the market, 'Hey, we've got some cheap cash for some time here,'" Dan Cook, senior markets analyst with IG Markets, told The Wall Street Journal.
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