The problems causing European stocks to selloff are region specific and will not keep U.S. equities from heading higher in the next year, said Mark Luschini, Chief Investment Strategist at Janney. Luschini said the fundamentals of the U.S. economy are solid, especially in the technology sector which is benefiting from increased capital spending. He is less bullish on materials stocks because they are too dependent on a slowing China. Luschini also said the decline in Europe, as well as worries about high bond prices, are making U.S. stocks one of the last few good options for investors to put their money.

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