Merrill's Quinlan: Market will still hit '25 targets while avoiding recession

Money Life with Chuck Jaffe

Joe Quinlan, head of CIO market strategy for Merrill and Bank of America Private Bank, says the market "got wrong-footed coming into January," expecting a pro-business administration but stumbling instead due to the tariffs, but he says that as the economy starts to get to the other side and have some clarity, he still sees the Standard & Poor's 500 hitting the same goals his team set for it at the beginning of the year at 6,600. While he would like to see the market make and hold new highs to prove that the rebound from April lows can hold, he says that there will not be a recession this year or next without some man-made event like the Federal Reserve making a mistake by moving rates too much or too soon. While Quinlan is confident that there won't be a recession, most Americans disagree; Emily Fanous discusses a survey done for Howdy.com which showed that more than half of Americans think a recession is in the offing — within the next year — and that many are starting to change financial habits to prepare for that downturn now. Plus, veteran international fund manager Bernie Horn of Polaris Global Value talks stocks in the Market Call.