Stay ‘Cautiously Optimistic’ on Stocks Says One Strategist

Be cautiously optimistic when it comes to stocks - especially the gold miners - in the second half of the year, said Alan Gayle, senior investment strategist at RidgeWorth Investments. 'The headwinds of a strong dollar and low oil prices have abated, and earnings expectations for the remainder of 2016 are on the rise,' said Gayle. 'Valuations are reasonable on balance, in our view, and still very much attractive relative to bonds.' Gayle added that the consumer showed fresh signs of life in April and the housing market appears to be hitting its stride following a long recuperation period after the financial crisis. Gayle said the biggest downside risk to stocks is the upcoming Brexit vote on June 23rd.