US Stocks Could Rise 12% This Year as Economic Growth Gathers Momentum
$DIA, $SPY, $QQQ, $VXX
US stocks could rise 12% this year as economic growth gathers momentum, bolstering demand for risk assets, while pushing US Treasury prices lower, according to Byron Wien VP of Blackstone Group (NYSE:BX)
The Vice President of multi-asset investing at Blackstone Group LP failed to see a 9.5% rally in the S&P 500 last year, missing the mark
For Y 2017, Mr. Wein, 83 anni, anticipates that yields on 10-year T-Notes will approach 4% as GDP expands at a rate of 3%. He expects German Chancellor Angela Merkel to lose her bid for re-election.
His S&P 500 call is higher than the average of analysts surveyed.
“Investors become convinced the US economy is back on a long-term growth path,” Mr. Wien wrote in a statement.
The upbeat forecasts set Mr. Wien apart on a day when others voiced global caution.
Mr. Wien, a former Morgan Stanley (NYSE:MS) strategist, correctly predicted just 1 rate hike from the Fed, and that yields on the benchmark 10-year T-Not would not top 2.5%, he was wrong on Hillary Clinton, and he missed the rally that took Crude Oil past 50 bbl
Tuesday, the US major stock market indexes finished at: DJIA +119.16 at 19881.89, NAS Comp +45.97 at 5429.08, S&P 500 +19.00 at 2257.83
Volume: Trade was heavy on this 1st day of trading in Y 2017, with 1.2-B/shares exchanging hands on the NYSE.
- S&P 500 +0.9% YTD
- NAS Comp +0.9% YTD
- DJIA +0.6% YTD
- Russell 2000 +0.5% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.36)||Bullish (0.29)||Bullish (0.44)||Bullish (0.35)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.32)||Neutral (0.23)||Neutral (0.17)||Very Bullish (0.56)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.25)||Bullish (0.35)||Neutral (0.04)||Bullish (0.36)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.42)||Bearish (-0.34)||Bearish (-0.42)||Very Bearish (-0.51)|
Latest posts by Paul Ebeling (see all)
- The 5 Safest Cities in the World - October 13, 2019
- Box Office: ‘Joker’ Laughs with another $55-M in North America - October 13, 2019
- US Q-3 Earnings, Here They Come - October 13, 2019