he stock market rally has gotten a bit "long in the tooth" and could pull back 3 percent to 5 percent after the New Year, expert David Schiegoleit told.
That could present a "fantastic buy-on-the-dip opportunity," the managing director of investments at The Private Client Reserve of U.S. Bank said.
"If you do see a pullback like that, it would be short-term in nature, and I think the pain would actually come in the sectors that did the best since the election," like financials, telecom and industrials, he said.
Schiegoleit anticipates the yield curve will continue to steepen at a measured pace. That will help out banks and is a signal of increasing economic activity across the board, he noted.
Ross Gerber, CEO and president of Gerber Kawasaki, is also bullish on the market for 2017.
"I don't think we can ask for better confluence of things happening to push earnings higher — from corporate tax reform to obviously tax cuts potentially for the wealthy, as well as just a stronger economy and now higher rates, which are helping the financials. We also have higher oil prices," he told.
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