The outlook for stocks in 2016 is looking a lot like 2015: no growth. ‘We believe overall the markets are going to be broadly flat due to the strong dollar and commodity prices,’ said Pamela Woo, head of U.S. equities at BNP Paribas Investment Partners. ‘We think earnings revisions are going to continue to be pressured and we also feel valuations with the S&P 500 at 16 times next 12 month earnings are fair valued.’ While there are a few more trading sessions left in the year, the broad S&P 500 is shaping up to post flat growth in 2015, after rising 11.4 percent in 2014. One of the reasons markets have been volatile in recent months is the slide in crude prices. While oil is flirting with six-year lows, Woo doesn’t expect the commodity to move much lower. ‘We are expecting higher oil prices next year,’ she said. Amid the lackluster forecasts for next year, there are some bright spots. Google (GOOG) and JPMorgan Chase (JPM) are poised for growth, Woo said. Woo spoke with TheStreet’s Scott Gamm in New York.
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