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Market Pro Sees Dow Reaching 15,000 Soon

Tuesday, 29 May 2007 | 10:26 AM ET

The Dow Jones Industrial Average is likely to reach 15,000 by the end of this year or early 2008, said Householder Group Vice President Nick Massey on "Squawk on the Street."

"Things are moving along faster than we previously predicted," said Massey, who previously predicted that Dow would reach 14,000 this year.

Dow 15,000
Dow 15,000 may be reachable by year-end, says Nick Massey Householder Group VP; with CNBC's Erin Burnett

He attributed the higher level to positive demographics worldwide, caused by rising consumer spending and advancing globalization.

"Globalization is advancing at a tremendous pace, faster than any of us had predicted," he said, adding that this will cause millions and millions of consumers, making up 70% of the economy, to be brought on everyday.

A market correction is possible, Massey said, though it will be minor and his company will remain fully invested.

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