Financials Looking Fine Heading Into 2017, Says Schwab's Kleintop

Like the result or not, the election is in the books and it's time for investors to look ahead to 2017, said Jeffrey Kleintop, chief global investment strategist at Charles Schwab. "In 2017, the financial sector could overcome some of the credibility issues it has been facing provided the Federal Reserve raises rates in December." Kleintop expects earnings to grow in 2017, likely in the single digits, as opposed to the double-digit numbers being bandied about on Wall Street. Investors wondering where exactly to put their money to work internationally should consider Canada, which Kleintop calls one "big levered energy ETF", as well as Japan. He said Brexit is still working itself through the economic, financial and political systems in the U.K. and Europe. As a result, he said global stocks may fall further.