Market bull predicts stocks could surge another 8% by July, but lacks clarity on rest of year

Federated Hermes' Phil Orlando believes thecould hit his year-end price target of 4,500 by July, which implies about an 8% gain from current levels.

"At the pace the economy is growing and earnings are growing, you know we might get there earlier," the firm's chief equity market strategist told CNBC's "Last week, Orlando's firm upgraded its GDP forecast to 6.4% for the year, citing the positive impact stemming from President Joe Biden's $1.9 trillion coronavirus aid package. Federated came into the year with a 6.1% forecast.

"If we're right with our 6.4% estimate, that's going to be the strongest full-year GDP growth since 1984. We posted a 7.2% rate," said Orlando."First quarter earnings are coming in very strong. Looks like we could be up 30% year over year. The earnings recession is over," said Orlando. "In the second quarter, which will enjoy the full benefit of some of this fiscal stimulus, we could be looking at an earnings growth rate twice that on a year over year basis.

TradingNation Who cares? My portfolio goes down no matter what the market does.

TradingNation ALL SUMMER BABY!!!!! 💰💰💰💰💰

TradingNation GDP rises to 6%, economy over heatedness causes Inflation that Fed has to Cover by raising Interest rates. The Corporations that bought their own stocks with Interest free money have to start selling to cover. Don't see many people saying that, but just my 2 Cents.

TradingNation השור הזה עושה את התפקידים رمضان_كريم

TradingNation Amazing he doesn’t know the whole year...terrible reporting...do you think anyone knows...but I can tell you this, this year will be great...ups and downs but net result will be great...look at the markets history it always goes up

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The stock market continues to keep sellers at bay, offering few reasons to fight the tapeA disappointing jobs report leading to an S&P 500 record is a fitting turn for a market whose defining feature right now is a dearth of determined sellers. Pro thanks for this news
Source: CNBC - 🏆 12. / 72 Read more »

Snap, Intel, Mattel: What to Watch When the Stock Market Opens TodayStock futures edged up as investors assessed data on how manufacturing and services world-wide are faring ⚽for football betting fans Search for the channel ' LADSBROKE ' on TELEGRAM and join winning team making money through sports betting , the guy is good with punting odds , best tipster so far in football betting tips AMCPARTY happening! Join in! 🥳
Source: WSJ - 🏆 98. / 63 Read more »

Stock market earnings trades: 5 top options to profit from JPMorganBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Facebook, Twitter, eBay, Apple: What to Watch When the Stock Market Opens TodayFacebook, Twitter, eBay and Apple are among the stocks to watch when markets open, with major tech firms expected to drive gains I owe you an apology to ever doubt your sincerity and professionalism. It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. wilfred_1Btc Horrible but True They need competition. What happened to monopoly laws. Break them up! They will be the end of free speech.
Source: WSJ - 🏆 98. / 63 Read more »

5 things to know before the stock market opens ThursdayU.S. stock futures rose one day after strong earnings and economic optimism pushed the Dow to a record closing high. I am recently in your country, looking for new friends
Source: CNBC - 🏆 12. / 72 Read more »

Cautious German Savers Brave the Stock MarketU.S. stocks such as Tesla, Apple and GameStop are attracting German investors, as negative bank rates prompt risk-averse savers to shift their money please retweet. Mauritania is facing acute humanitarian needs, including high levels of food insecurity (over 25 per cent of the population in severe food insecurity in most of the provinces) and very high rates of acute malnutrition. UN
Source: WSJ - 🏆 98. / 63 Read more »