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U.S. stocks seen pushing higher as data cheers
Last Update: 6:01 AM ET Feb 10, 2007
SAN FRANCISCO (MarketWatch) -- U.S. stocks are expected to move higher next week, snapping back from this week's declines as data show the economy continuing to pick up while inflation pressures ease.
4:02pm 02/09/2007
The market is going higher, said Jim Paulsen, chief investment officer of Wells Capital Management.
"When you just step back from the day-in and day-out stuff, we've got an economy which is better than people thought on the growth side, and we've got a tame inflation environment."
Art Hogan, chief market strategist, at Jefferies & Co, and Al Goldman, chief market strategist, at A.G. Edwards, agreed with Paulsen's view.
Barring any "major, negative challenge," stocks should climb next week, said Hogan, while Goldman said losses on Thursday and Friday help the market "work off some of the short-term excess."