The new year is just around the corner, and CNBC’s survey of 19 money managers offers some clues where the economy will go – and where you should put your money.
The top strategists took on the big question: how high can the market go? Some 50% said the S&P 500 will hit 1550, and 22% were even more optimistic, calling for a rise to 1600. The S&P closed just shy of 1417 on Dec. 26
The U.S. economy, however, did not inspire glowing confidence. About 78% of respondents see slower growth in 2007, while only 17% said economic growth will match that of 2006. Driving this outlook in part: oil, which is predicted to average between $60 and $70 per barrel.
The money managers did not have a clear majority opinion on which sectors will be the most profitable for investors, but healthcare and financials tied as favorites – and they cited energy and materials as the likely worst performers.