By CCN Markets: The stock market has been booming, so don’t be surprised if the Dow soars to 30,000 within the next 12 months. That’s the bullish projection of several Wall Street veterans, including Skybridge Capital’s Troy Gayeski.
Gayeski is a partner and co-chief investment officer at New York investment firm Skybridge Capital. He says there’s more than a 25% chance that the Dow will clear 30,000 by the first quarter of 2020.
Gayeski says investors shouldn’t get discouraged by the constant barrage of negative headlines screaming about an impending stock market crash.
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Gayeski told Yahoo Finance that these three factors are the catalysts for a near-term stock market boom:
- Low interest rates.
- Robust corporate environment.
- Investor FOMO buoyed by a strong US economy.
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Gayeski says the constant flood of doomsday scenarios related to the stalled US-China trade talks distracts from the reality of the robust U.S. economy.
“Even though some of the headlines in the short term are negative, you can’t get too bearish based on the recent trajectory of China-US trade talks. You have to still focus on the strength of the domestic U.S. economy, which is rather robust.”
Other Wall Street veterans share Gayeski’s optimistic outlook. Jim Awad is the managing director of Clearstead Advisors and a 50-year investment professional. He believes the Dow Jones is poised for steady growth for the remainder of 2019 — barring a catastrophic event.