Tags: CNBC | Dawn | American | Decade

CNBC Experts: We're at the Dawn of American Decade

Thursday, 29 Dec 2011 07:21 AM

The global economy is taking its first steps in the dawn of an American decade, where the United States will serve as the world's main driver for growth while Wall Street stocks will continue improving, traders say.

In short, growing energy dependence and a rebirth in American manufacturing will put the United States back on the top spot.

"We’re on our way to becoming a self-contained economy," says Ron Insana, a CNBC senior analyst.

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"We have an energy boom and manufacturing is coming back. Although I think we’re going to be more inward looking, I believe it will benefit the domestic economy," Insana tells the network.

insana200gettyy.jpg
Ron Insana
(Getty Images photo)
Mike Murphy, a trader and CNBC commentator, agrees, expecting the United States to top China as the world's growth engine.

"I think we’re going to see what the U.S. is made of," Murphy also tells CNBC.

Other analysts are sticking with the more immediate outlook for 2012, but remain optimistic, especially when it comes to banking stocks.

"The financials, which have lagged, are getting stronger," says hedge fund manager Anthony Scaramucci.

Many analysts agree that 2012 will be a positive one for stocks.

Companies will earn money, the United States will likely avoid recession, and sentiment is improving.

Risks, however, still remain.

Political bickering in Washington over economic policies won't relent, while the world wonders whether China will avoid a hard landing.

The biggest dark cloud lies in Europe, which will continue fighting to firewall the debt crisis to Greece, Italy, Spain and other periphery countries.

"Normally, you wonder, How will sales do? How are managements doing?" says Howard Silverblatt, senior index analyst at Standard & Poor's, according to the Associated Press.

"Now there are so many high-level issues that affect the market."

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The global economy is taking its first steps in the dawn of an American decade, where the United States will serve as the world's main driver for growth while Wall Street stocks will continue improving, traders say. In short, growing energy dependence and a rebirth in...
CNBC,Dawn,American,Decade
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2011-21-29
Thursday, 29 Dec 2011 07:21 AM
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