One Strategist Says Hunker Down and Hold Utility Stocks

Instead of fretting about a potential double-digit drop in earnings this quarter as some analysts expect, investors should 'sit tight, hunker down and power through it', said Thom Melcher, chief investment officer of PNC's Asset Management Group. 'In today's environment, everything is unnerving to investors. The economy is growing slowly and so you are not going to get great earnings growth out of a slow economy,' said Melcher. He said a slow growth, low inflation environment is typically difficult for stocks.