Don’t let the recent spat of volatility across the markets fool you: stocks are headed higher. ‘Longer term, I think the S&P 500 can get back to that 2,050 level and possibly even 2,100,’ said Ryan Larson, head of equity trading at RBC Global Asset Management. ‘The economy in the U.S. is arguably in a better position than most of the globe, so as this short-term volatility about the Federal Reserve’s first rate move subsides and people start to think about fundamentals, that should push us higher.’ The S&P 500 currently trades at 1,941, after reaching 1,867 on August 25. For investors with a longer-term perspective, Larson likes the consumer discretionary, health care, technology and energy sectors, with crude trading above $40. While Larson expects continued choppiness in stocks, especially ahead of next week’s September FOMC meeting, he thinks the Fed will raise rates at some point in 2015, with December as the more likely time. TheStreet’s Scott Gamm reports from New York.
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