David Darst Discusses Plan For Next Week

David Darst, of Morgan Stanley, says he likes the way the market has acquitted itself.

With all of the negative news, Japan, Libya, and oil, Darst said the market has responded very well, and he believes this sets up really well going forward.

Darst said that the regional manufacturing data shows a strong economy. He sees profits for the S&P 500 rising 14% this year, and 12% next year.

Darst likes the fact that banks like J.P. Morgan (NYSE: JPM) and Bank of America (NYSE: BAC) are paying dividends, and he likes Cisco (NASDAQ: CSCO) as well.

He said that a dividend initiation is a sign that the companies have to do something for the shareholders.