Dow 30,000 may just be the beginning.
Oppenheimer Asset Management’s John Stoltzfus believes the Dow's record high on Tuesday
is justified despite the nation’s battle against surging coronavirus cases. He lists a resilient economy as the major factor for optimism.
Stoltzfus also cites vaccines advancements, less uncertainties surrounding Washington’s post-election government makeup, and better-than-expected third quarter earnings for his positive outlook.
It’s a stark departure from his view about nine months ago. Stoltzfus was one of the first mainstream Wall Street strategists to warn investors about the pandemic.
In late February, he told “Trading Nation” there was nowhere for investors to run. About a month later, he abandoned his S&P 500 year-end target of 3,500.
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25 Nov 2020, 11:17 を編集しました
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