Analyst Recommends 3M And Caterpillar (MMM, CAT, CSCO, ATT)

Chip Cobb, senior vice president at Bryn Mawr Trust, discussed his market outlook with CNBC.

He said, “Unfortunately, we’re stuck in a trading range and I think we’re going to be here for a while. Primarily, there’s a lot of pressure that we’re dealing with and most of it is headline risk.”

He said that negative news, such as the European debt crisis and BP's (ADR) (NYSE: BP) spill, may drag the markets further down.

Cobb also shared his stock picks with CNBC. He favored Industrial stocks such as 3M (NYSE: MMM) and Caterpillar (NYSE: CAT). Among technology stocks, he likes Cisco (NASDAQ: CSCO) and AT&T (NYSE: ATT).