Navarro sees Dow 32,000 in 2020 and US financial development nearer to three%

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Navarro sees Dow 32,000 in 2020 and US financial development nearer to three%

White Home commerce advisor Peter Navarro on Tuesday predicted the Dow Jones Industrial Average will hit "at the very least" 32,000 in 2020. That m


White Home commerce advisor Peter Navarro on Tuesday predicted the Dow Jones Industrial Average will hit “at the very least” 32,000 in 2020. That may be 12.4% larger than Monday’s shut.

“I am wanting ahead to an awesome 2020,” Navarro advised CNBC’s “Squawk Box.” “Forecast-wise, I am seeing nearer to three% actual GDP development than 2%. I am seeing at the very least 32,000 on the Dow.”

Within the third quarter, U.S. financial development elevated at a 2.1% annual rate.

The Dow, which declined and closed Monday at 28,462, was up greater than 55% since President Donald Trump gained the 2016 election. Regardless of Monday’s drop, the Dow was nonetheless close to file highs.

“It is going to be the roaring 2020s subsequent 12 months,” Navarro stated. “[Dow] 32,000 is a conservative estimate of the place we’ll be on the finish of the 12 months.”

Trump is operating his 2020 reelection marketing campaign on his inventory market and financial monitor file.

Navarro pointed to a handful of indicators of a stronger financial system forward, regardless of considerations of a slowdown, together with low unemployment, rising consumer optimism and rising wages.

Moreover, he cited ongoing commerce progress.

The “section one” commerce deal between the U.S. and China is a certainty at this level, Navarro stated, including the accord is “in the bank.”

He additionally alluded to potential commerce priorities for the Trump administration in 2020, together with a brand new take care of a post-Brexit United Kingdom and different…



cnbc.com