We are in the early innings of a bull market where the earnings recovery story has barely begun,” Bradesco BBI’s head of equity strategy Ben Laidler told Yahoo Finance Executive Editor Brian Sozzi on his Opening Bid podcast.
Grace Williams for Yahoo Finance:
Laidler, whose resume includes stints at HSBC and JP Morgan, thinks there’s a likelihood of two interest rate cuts this year from the Fed — which should fuel further investor excitement beyond expected strong earnings growth.
Those factors could help lift stocks at least 100% over five years, contends Laidler.
“Earnings might easily compound at 15% a year if the economy keeps chugging along and you get a little bit of multiple expansion, which I think lower interest rates would justify,” he said.
The gains have been powered by enthusiasm around AI, powering names such as Nvidia (NVDA) and Apple (AAPL) to record highs.
This year the momentum has carried the Dow Jones Industrial average beyond 40,000, and the S&P 500 beyond 5,000.
“We are in a very fundamentally supported market. Earnings are recovering, and rate cuts are coming,” added Laidler.
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
MacDailyNews Take: From Ben’s lips to Mr. Market’s ears (especially regarding Apple).
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
100 percent is where we are now, this means that in five years stocks will be where they are today.
The Big 7, 8 will continue to drive the stock market. Great…sounds like a healthy market.
Is the before or after the upcoming crash caused by libturd stupidity?
70% of the S&P is being driven by 7 tech stocks.
Remember the 2003 tech stock crash? Tech stocks lost about 70%, S&P crashes about 32%
We are right back there again.