Expect Strong Market Through January: S&P's Stovall
Corporate debt and equities both saw strong performances in 2009, so what should investors expect for 2010? Sam Stovall, chief investment strategist at Standard & Poor’s, shared his view.
“Historically, we can expect a good year, but not a great year,” Stovall told CNBC. “The month of January is likely to be fairly strong.”
Stovall said the first January following a bear market since 1932 historically rises about 3.5 percent.
“We think the S&P will rise to about 1,215 by the end of December this year,” he said. “It’s going to be a slow but a steady upward grind—we’ll see 2 percent for all of 2010 in terms of GDP growth, ending the year at about 3.4 percent quarterly growth.”
- Watch Stovall's Previous Appearance on CNBC (Dec. 30, 2009)
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No immediate information was available for Rosenberg or Stovall.