The S&P 500 Index has finally pushed back into positive territory for 2016 after falling as much as 10% in mid-February. Richard Saperstein, principal at Treasury Partners at HighTower, said investors should not expected much more from stocks for the rest of the year except in a few select names like CVS (CVS) and Stanley Black & Decker (SWK) . 'There are a lot of risks on the horizon that we don't feel are adequately priced into the market right now,' said Saperstein. 'PE multiples are not attractive, earnings growth is not there and the U.S. is having a lethargic growth period and the dollar has strengthened versus non-U.S. currencies, so we simple don't see the fundamentals that will send stock prices higher.' That said, Saperstein is bullish on CVS Health Corporation, up over 6% so far in 2016, because of the strength of the consumer.

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