Wall Street Vet Market Prospects Discourage CNBC Host Joe Kernen

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“People are terribly underinvested. There is $ 5 trillion in money market funds. So I think the markets are increasing. I think they are increasing much more than people think. We may be stalling here for a while… but I think you will be bringing a rocket in the fall this year.
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It was Jeff Saut, chief investment strategist at Capital Wealth Planning, who presented a bullish approach to the market that caught Joe Kernan of CNBC by surprise on Monday morning.
“You all live in New York. Go to the restaurants, ”continued Saut. “The restaurants are full. The restaurants in St. Petersburg are full. The economy is doing much better than most economists think. “

With profits about to surprise on the rise and a faster than expected recovery in the economy, he said he was looking for the S&P 500 SPX,
+ 1,60%
to break 4,000 in a year. During the last audit, the wide gauge increased by more than 1% to 3,169. The Dow DJIA,
+ 1.42%
et le Nasdaq COMP,
+ 2.44%
were also significantly higher in Monday’s session.
“This is a secular bull market,” said Saut. “Depending on where you started … this thing should be five, six, seven years old and nobody believes it. ” Watch the interview:

Jump has been pushing back its bullish forecast for a while now. By December, it had targeted 3,600 on S&P by the end of 2020. “The world’s central banks are printing money, and that’s all you really need to know,” he told l ‘time. “I think we have years to go. “

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