The U. S. economy is not going to slow as much as expected and earnings will be strong next quarter, Raymond James’ Jeff Saut says.
The stock market has reached a bottom following a tumultuous 10 weeks that’s seen the S&P 500 in and out of correction territory, longtime strategist Jeff Saut told CNBC on Thursday.
« On Oct. 2, we had on our short-term model a sell signal and we told people if you have trading positions you should sell, » said the chief investment strategist at Raymond James. « And we have put some of that money back to work. »
« People are underinvested » in stocks, Saut said, citing his belief that the U. S. economy is not going to slow as much as expected and earnings will be strong next quarter.
Saut appeared on » Squawk Box » as U. S. stock futures Thursday morning were alternating between gains and losses.
