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Markets rose on Friday on solid earnings reports from Disney and JCPenney. Joseph Keating, CIO of private asset management at RBC Bank, shared his market insight.
“We believe the economy has begun to expand,” Keating told CNBC. “It began in the third quarter and we think it will be a gradual recovery.”
However, Keating said the potential for a V-shape recovery in earnings is “very plausible.”
“So we think the market moves higher—we wouldn’t chase it, I’d average some money into the market, but we think it moves higher,” he said.
Keating’s Picks:
Kinder Morgan Energy Partners [ KMP 60.17 
+0.48 (+0.80%) ]
Plains All American Pipeline [ PAA 51.86 +0.19 (+0.37%) ]
Enterprise Products Partners [ EPD 30.61 +0.05 (+0.16%) ]
Energy Transfer Partners [ ETP 43.93 +0.11 (+0.25%) ]
Progress Energy [ PGN 38.00 
-0.76 (-1.96%) ]
Entergy Corp [ ETR 76.29 -0.80 (-1.04%) ]
Duke Energy [ DUK 16.32 +0.00 (+0.00%) ]
Sempra Energy [ SRE 49.01 -0.67 (-1.35%) ]
Scana Corp [ SCG 34.73 -0.39 (-1.11%) ]
Dominion Resources [ D 36.27 -0.48 (-1.31%) ]
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