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

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