WORLD> America
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WORLD> America
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Street enters '09 with merciful '08 end
(Agencies)
Updated: 2009-01-01 09:44 "Given the nasty carnage how much further risk is there?" said David Darst, chief investment strategist for Morgan Stanley's global wealth management group. Still, the credit markets remain nearly stagnant as banks continue to be anxious about lending. Corporate forecasts in January could help shape investor sentiment, even as expectations are modest. David Kelly, chief market strategist at JPMorgan Funds, said the prospects for the market are "exceptionally uncertain." For the market to hold its advance from November he contends the calmer trading of the past month must continue and president-elect Barack Obama's plan to boost the economy with spending on infrastructure must show it is working quickly. "The great risk is we are in a wait-and-see economy," Kelly said. "What Obama needs to do is turn this into a do-it-now economy, give people a reason to buy."
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