Analyst: large-cap valuations are 'very appealing'

Investors are closely watching numbers coming in today from major retailers, as they start thinking hard about where to put their money next. For a closer look at the months to come, CNBC

turned to Joe Ranieri, managing director at Canaccord Adams. Ranieri expects to see a little bit of a choppy market early in the year. He says, “Valuations on the large-caps are very

appealing – so any pull backs will be a buying opportunity.” Erin Burnett asked if weakness in the transportation sector might be signaling something more ominous, but Ranieri didn't

think so. He feels that if the economy pulls back, it will be a broad pullback (as opposed to being narrow or sector specific). “We’ve been lucky with the warm weather. If things kick up

with the cold, oil prices will head higher, so we’re going to have to watch that.” Those high prices could be a drag on the markets.