Nothing much seems to be rattling one of Wall Street's biggest bulls these days — even as North Korea, drama on Capitol Hill and a second major hurricane in less than two weeks dominate the headlines.
"I remain optimistic," Oppenheimer's John Stoltzfus said Wednesday on CNBC's "Trading Nation. " "There's always trouble in the world."
The strategist said nuclear threats are not unusual — pointing out that China and Russia have been heavily armed for decades.
"We don't believe we're headed into a period which will see the markets turn chaotic from here to the end of the year," Oppenheimer Asset Management's chief investment strategist said in a note to CNBC. "That said, we don't expect the market to take off in a straight line higher."
But he's predicting the will end the year at 2,650. That's 7 percent higher than current levels. Based on a CNBC survey of 16 strategists, he's the Street's second-biggest bull.
If the Trump administration can deliver a tax cut and a major infrastructure initiative in the next three months, he said, his S&P target could be reached even sooner.
But it won't be a situation where it'll burst through his target, as it did over the summer. On July 31, he revised his original 2,450 year-end forecast higher, made in November 2016.
Rather, Stoltzfus sees stocks "grinding higher," with two laggards potentially leading the way.