Tony Dwyer who is among the biggest bulls of the Wall Street is now seeing more reason for optimism.
Tony has boosted his target price for the end of the year 2020 by 90 points on Monday for S&P 500 to 3,440 which is a gain of 10 % from the levels it is currently on. Dwyer has cited a Federal Reserve that is easy and an inflation level that is low to be the major drivers of his forecast being updated.
He says that the low rates of inflation equaling an easy Fed was the main reason for this strategy in an interview on Monday. He further said that he does not think that the Fed will be raising the rates potentially for many years.
The target update has come only two days before the final decision of the decades being taken by Fed on the interest rates.
Dwyer has said that the bull story of 2019 which they had been coming up with was that there had been a lagged effect of the tightening of the policies in the year 2018. And they were going to see a slowdown in the economy which had not ended up in recession due to the consumers being good albeit slow. This had prompted the Fed to go towards easing from tightening. He believes that reacceleration is on the cards now and has called this situation an extraordinary one.
He says that even though there is a chance of the trade war between United States and China going deep into the next year, the stocks are likely to see one more record year. He has pointed out that the S&P has increased by 25 % in the year in spite of the trade headlines being dominant in the market.
Jane pursued a Degree of Doctor of Medicine and holds 3 years of experience in the Health domain. Together with her outstanding management skills, she holds strong leadership skills that make her a promising personality to represent our Health department. She is the Content Writer of the Health Department from the last 2 years. Jane was full-time practitioner in the Health domain before joining our news portal. She loves to write news reports with precision and never misses the key elements of that news report.