Wall Street Hopes for Summer Rally
SCHAFFLER: And it's time now to get some "Predictions." We start, as always, with Myron.</s>MYRON KANDEL, CNN FINANCIAL EDITOR: Well, Rhonda, I've been saying the summer rally is here, and then it goes, and it comes. For a time this week, it looked like we were going to have a nice resumption of the summer rally. And then we had the uncertainty on Friday as a result of the jobs report. I still think that there's strength in this market for a solid summer rally, not an explosive one, but a solid one in the month of August. I get a little worried looking father ahead about a pullback. But that's in the future. Right now, despite ups and downs, a very volatile market, I'm still looking for a decent summer rally.</s>SCHAFFLER: We're running out of summer, Myron. But we still have August. Todd.</s>EBERHARD: I think the summer rally, as I said earlier, is going to be a lot colder than summer when it finally gets here. But we will get it. And the one prediction I will throw out is that the Fed will do a quarter point on the 21st.</s>SCHAFFLER: Nick.</s>SARGEN: I agree with the Fed. But I think that's priced in. So I think this summer could take vacation. I think all the action heats up after Labor Day. And it's which way does the economy break? Down the road, I think professional money managers want to put money to work. So I think later on this year we might get a rally. I don't think it's right now.</s>SCHAFFLER: John.</s>MANLEY: I think we get a good productivity number next week. And that's sort of an indication the long-term is still intact. It's a question of slogging through summer or winter or whatever. But long term, it will be proved to be intact. We'll see a good number.</s>SCHAFFLER: If the Fed comes through, will there be less slogging?</s>MANLEY: The more the Fed does, the better it is. But they can't treat the direct problem. They just have to keep the patient alive. But eventually, it will heal itself.</s>SCHAFFLER: And when we look at an economy and the market healing itself, any thoughts on how this market will be by the end of the year? Investors still don't seem to have that confidence.</s>MANLEY: No one has confidence in the numbers. But that's the point. They go from no confidence to some confidence. That's what I think makes the market do well. So I think the market could be 10 or 12 percent higher by the end of the year.</s>SCHAFFLER: OK. I got an extra prediction from you, John. That is it for this edition of MONEYLINE WEEKEND. I'm Rhonda Schaffler. Drop us an e-mail at MONEYLINE.WEEKEND@CNN.com. We'd love to hear your questions and comments. And you have a great weekend. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com