Costco and Hewlett Packard To Perform Well (COST, HPQ, NEM)

Erik Ogard, director at Russell Investment Group, is of the view that investors are holding back due to the cautionary nature of economic news. He added that “tempered language” for future earnings prospects is also a negative factor. According to Ogard, the real economic growth has to be earnings driven, and not cost-driven. He told CNBC, “I believe we’re turning that corner right now, and we will advance, we won’t go into recession, we won’t experience deflation and eventually, we’ll work our way out of this.” He recommended Costco COST and Hewlett Packard HPQ. He also likes Newmont Mining NEM.