Today I had the pleasure of joining Stuart Varney on Fox Business. The main topic of discussion was the outlook of the stock market and oil prices. The big question for debate was… Will the Dow Jones Industrial Average hit 17k in March? In my opinion, “it is almost a near certainty.” Investors became overly pessimistic and this led to the correction we have seen in 2016. People have taken their minds off essential microeconomic factors and company earnings. I believe oil has stabilized here in the low to mid 30s. Many investors are beginning to realize that oil isn’t going to go down forever. This will allow people to re-focus on company earnings.
In short: There are absolutely no guarantees and I do not have a crystal ball, but I think the market has overacted to the downside, oil will stabilize in the low to mid 30s and move higher, and we will see the DJIA break 17k in March.
What does everyone else think? Comment below or send me an email to discuss…
Until next time-