"Stocks are cheap and could rally 32 percent next year" Bill Stone

06.10.2017 / 14:39

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Based on the latest calculations by PNC Asset Management's Bill Stone, the S&P 500 could hit 3,368 in 2018. And he has a chart that proves it could happen.

"Interest rates matter for valuing stocks.The firm's global chief investment strategist, acknowledges the odds are very low that this scenario would materialize. He said a lot of his assumptions, such as consensus earnings being up 10 percent over 2017, would have to be correct.А 32 percent jump isn't impossible.

On the other side , a former Morgan Stanley Asia Chairman Stephen Roach warned "frothy" markets reminded him of 2007 and the odds are higher than 50 percent that stocks will plunge 10 percent in the final months of the year.

Wells Fargo also turned negative. It's predicting stocks could fall as much as 8 percent before Jan. 1.

Soruce: Bloomberg Pro Terminal

Trader Bozhidar Arabadziev

Varchev Traders

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"Stocks are cheap and could rally 32 percent next year" Bill Stone

London

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