Tags: Belski | bull | market | stocks

BMO's Belski: Bull Market for Stocks Will Last 20 Years

By    |   Monday, 24 November 2014 05:33 PM

The stock market party that began in March 2009 is just getting started, as earnings are poised to continue strengthening, says Brian Belski, chief investment strategist at BMO Capital Markets.

Analysts estimate profits for S&P 500 companies will rise 7.6 percent for all of 2014, according to Bloomberg.

"U.S. markets are 5½ years into a 20-year bull market," Belski told CNBC. The corporate sector of the economy has seen "massive structural changes" during the past 15 years, he said.

"We've become ultra conservative, we've over-corrected, we've rebuilt our balance sheets, and earnings in America are the most stable asset in the world. Now we're going to take that stability and grow. . . . U.S. stocks are pristine assets."

Emerging markets will become a positive force for U.S. growth, as they shrink their excess capacity and manage the shift to a demand-led economy from a supply-led economy, Belski said.

In addition, as U.S. interest rates climb, bond investors will shift to stocks, he said.

The Dow Jones Industrial Average and the Standard & Poor's 500 stock index both closed at record highs Monday.

"We’re seeing a carryover from last week’s comments made by [European Central Bank President Mario] Draghi trying to address the [low] inflation in Europe, and the actions from the Chinese central bank to lower lending rates," Robert Pavlik, chief market strategist at Banyan Partners, told Bloomberg.

"You’ve gotten some good economic news and earnings reports. The market has more upside potential."

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The stock market party that began in March 2009 is just getting started, as earnings are poised to continue strengthening, says Brian Belski, chief investment strategist at BMO Capital Markets.
Belski, bull, market, stocks
265
2014-33-24
Monday, 24 November 2014 05:33 PM
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