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Investment Expert Jerry Castellini: Stocks to Surge at Least 15 Percent in 2017

(Dollar Photo Club)

By    |   Friday, 30 December 2016 10:53 AM

 

Investment expert Jerry Castellini predicts that the Donald Trump-fueled stock-market bull run will continue to charge into the new year.

"People are not positioned for a better economy, for better valuations and for an overall positive investment environment, and that's got to get started and it's got to get started soon," the chief investment officer of CastleArk Management told CNBC.

He believes while there will be some bumpiness in the first few weeks of January, it will then be "off to the races" with recent headwinds like China and Europe going away and a massive move to rebalance portfolios.

Castellini is anticipating the Dow Jones industrial average will hit 20,000 in January and the S&P 500 will go over 2,500 next year. In fact, he sees the market's run going well into the next decade.

The Dow has been flirting with 20,000 but hasn't yet hit that milestone.

For the year, the Dow is up 2,394.75 points, or 13.7 percent, at Friday's open. The S&P 500 is up 205.32 points, or 10 percent.

Meanwhile, Castellini isn't alone in his forecast of a runaway bull market under Trump.

Veteran financial guru Larry Kudlow, who served as the Donald Trump campaign's senior economic adviser, predicted to Newsmax TV that the record-setting stock rally “may go on for years” because the market “likes what it sees” before the president-elect has even officially taken office.

Stocks could drop in a natural turn of events, but for the most part, get ready for more record-high stock-market finishes, he recently told Steve Malzberg on “America Talks Live.”

“The Trump rally may go on for years,” said Kudlow, a Newsmax Finance Insider, radio talk-show host and CNBC senior contributor.

“It's not going to go on uninterrupted, but the market is telling you it likes what it sees regarding new economic policies to help business and to help growth and help jobs,” said Kudlow — host of "The Larry Kudlow Show" and author of "JFK and the Reagan Revolution: A Secret History of American Prosperity," written with Brian Domitrovic and published by Portfolio.

Trump's expected agenda of economic stimulus and reduced taxes and regulations has particularly fueled financial and industrial shares. On Friday, sectors that have underperformed - healthcare, consumer staples, utilities and tech - led the way.

“There will be correction but on and off,  this thing could last years,” said Kudlow, said who worked as Reagan’s budget deputy between 1981 and 1985.

(Newsmax wire services contributed to this report).

Larry Kudlow is a senior contributor at CNBC. His new book is “JFK and the Reagan Revolution: A Secret History of American Prosperity,” written with Brian Domitrovic.

To find out more about Larry Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com

© 2019 Newsmax Finance. All rights reserved.

   
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Investment expert Jerry Castellini predicts that the Donald Trump-fueled stock-market bull run will continue to charge into the new year.
stock market, jerry castellini, rally, trump
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2016-53-30
Friday, 30 December 2016 10:53 AM
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