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-- this -- discussion about the economy for a moment we have a new survey out gonna show you hear from economists expecting a sluggish global recovery over the next year.
I -- 2.3 percent US growth for the remainder.
Of this year two point 6% next this is -- Associated Press survey out today from Saint Louis were joined by Scott Wren senior equity strategist at Wells Fargo.
So with that that environment let's talk for a moment Scott.
About these stock market 55 on the Dow today up again.
What about the rest of the years -- it have we put Howard Dean CN or will we see more do you think.
-- are here and target for the S&P 500 which is what I really closely watched.
Is 1615 to 17100 so we're right there were just right at the top end of that so I would argue games for this year are in.
Not that in over the next couple of days if the Fed says the right thing and -- the right thing but tomorrow we could trade.
Over that by a little bit but I think at the end of the year we're going to be backed off a little bit from where we are now we're going to be pretty close to where we are now but that doesn't mean people should be out of this market.
We've obviously had a good run here.
I think that by the end of next year.
You'll see them SP 500 at 1850 to 19100 which is a decent game from here are so.
I hope there's some pullbacks because I think they're buying opportunities I think we have a good chances -- more volatility and I think we will get some -- buying opportunities over the next couple months as you know congress battles -- out no that's the thing you have a couple of thing.
It's coming up -- the debt ceiling obviously which you just referenced yet the Federal Reserve which talked about as well the two day meeting and we'll see where we go from here and tapering and who heads up the Fed and everything else.
What about as we head into next -- by across the board in the market -- -- particular.
These are you betting on an economic recovery now that finally these numbers don't look like at these AP numbers don't look I've -- take off by any means so what about investing -- -- -- not enough.
Yet -- not at all because really.
I think this year GDP in the US is going to be maybe 2% so.
Maybe a little bit more next -- I I completely agree with a sluggish economy but of course I've been saying you know.
Modest growth modest inflation I think that's where we've been there ever going to be but I.
Yeah I think you want to be and sector wise let's say industrials.
Consumer discretionary technology those are all sensitive to a continuation.
Of this recovery those -- the kind of sectors you want to BN.
I think you want to.
Underweight RBO pay less attention to things like health care and utilities pressure defensive.
People hide there I don't think they're going to be -- over the next year and a half.
Are we -- over blowing in talking so much about this whole fed situation Summers are just you know on and everything on and on earth.
Or is that really what will drive the stock market as well the Federal Reserve -- who heads it up and the second part of -- think it'll bait.
Well I think the Fed the Fed drives.
Personally all along I have thought it would be -- -- you want somebody in my opinion.
Flies under the radar not too political not a lot of baggage all the things that you know was not Larry Summers so.
I was a little surprised to see him drop out.
But I still think the president would have either chosen Janet -- or maybe even Donald -- I just don't think.
That tough you if you look at both sides of the aisle Democrats and Republicans there are a lot of people against Larry Summers because.
You know they tie him to the financial -- deregulation that happened in the Clinton years.
And you know.
Right or wrong -- big.
Trailers are not just today announced that that's legitimate that this summer's end are the trial balloon that popped or whatever it wants us Scott ran -- -- -- -- thank you very much for coming -- appreciate it.
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