RidgeWorth: Technology, Financials Will Fare Well But Not Utilities

Current valuations remain reasonable and the S&P should see a low double-digit rise over the next 12 months, said Alan Gayle, Senior Investment Strategist at RidgeWorth Investments. Gayle added that the domestic downside risks are limited due in part to low inventories and cautious hiring practices. He said he likes technology and financial stocks heading into the new year, but he is bearish on utilities and gold miners. Gayle is also bullish on high yield due to the strong economy and low default rate. Finally, Gayle said the Japanese and European Central Banks will stimulate their economies, helping growth and driving investors into U.S. Treasuries.