Sam Stovall Believes the S&P 500 Can Approach 1600
An upbeat Sam Stovall, Chief Equities Strategist at S&P Capital IQ, was interviewed on Fox Business. Analyzing stock market history and various fundamental, economics and technical factors convinces Stovall the market is on firm footing.
Stovall sees the S&P 500 possibly reaching 1535 to 1600 before the end of the year.
Stovall said prices lead fundamentals and we may be heading for recovery and we just don’t know it yet. The third quarter reporting season is important because the bar has been set low, he added.
The real question is the growth expectations for the fourth quarter and 2013 according to Stovall.
Stovall commented further on the exodus of individual investors from equity investments.
Source: Yahoo! Finance