The Market Can Go Further: Paul Meeks Appears on CNBC
September 28, 2017
“If we continue to see this kind of earnings growth, we won’t have a problem seeing the market getting above the 2,500 marker.”
That’s what Tim Lesko of Granite Investment recently had to say during a CNBC interview. Lesko goes on to make a bold claim:
“With interest rates staying low, and inflation rates remaining somewhat tame, there’s really no reason the market can’t go even further.”
So is his estimation correct? Well, Paul Meeks, the CIO of Sloy, Dahl & Holst seems to agree! According to Meeks, there are some fundamentals that justify the gains we’ve been seeing lately, and can continue to see. Those include strong corporate earnings, operating market expansion, and a slack (but still okay) revenue.
However, according to Meeks, in order for the market to continue, we’ll need to resolve this budget issue by the end of the month. There are also a few wildcards on the field that could play a part and we should keep an eye on:
The situation in North Korea
What the Feds will do next with interest rates
Still, Meeks agrees with Lesko on his estimation that the market is set to rise. In fact, Meeks goes as far to say that the S&P 500 could hit 2500 by year-end.