Dow Jones 30,000 is a near-term probability, according to several Wall Street investment pros. In fact, they say the stock market could rocket past 30,000 within the next 12 months.
The media have been wringing their hands over an impending stock market plunge due to the stalled trade talks between the United States and China.
The outcome of these negotiations will have a fallout effect on the world economy, which is why there’s such constant squawking about it.
CIO Projects Dow 30,000 By First Quarter of Next Year
However, Wall Street investment veterans say the Dow Jones will probably spike past 30,000 before the first quarter of 2020.
Troy Gayeski is co-chief investment officer at Skybridge Capital in New York. He says investors should ignore the nonstop negative media headlines and instead focus on the reality, which is a healthy U.S. economy.
Indeed, Gayeski predicts that’s better than a 25% probability of Dow 30,000 occurring within the next six months. He says investors have the money to invest in the stock market because the economy is humming.
Investment Boss: Fears of US recession are overblown
That said, Gayeski and others on Wall Street remain guarded about the escalating trade war between China and the United States.
In fact, some believe there’s a significant chance of a U.S. recession in late-2020. However, a recession is always a possibility. As it is, the United States is overdue for a recession.
Despite some bearish sentiments, some experts say the fear of a near-term U.S. recession is overblown. Krishna Memani is the chief investment officer at OppenheimerFunds, which oversees $213 billion in assets.
Memani says the greatest risk to the global stock market is trade, CCN reported. But he’s optimistic that the trade dispute between the United States and China will be resolved soon because they’re too dependent on each other financially.
Memani notes that the Chinese economy is slowing down and can’t afford to blow up a lucrative trade alliance with the United States.
Despite the global economic slowdown, Memani still recommends that investors buy. “We are telling people to buy right now because we expect these resolutions,” he said.