See Me On Squawk Box: My Near-Term Outlook for Stocks

Yesterday, I was invited on CNBC’s “Squawk Box” show to discuss my near-term outlook for Wall Street. As always, I thoroughly enjoyed my time on Squawk Box, and we covered a lot of ground in just a few minutes. So if you didn’t catch me on Squawk Box yesterday, you can get caught up by visiting the CNBC website or by clicking on the player below.

My Near-Term Outlook on Wall Street

If you’re not able to view the video at this time, here’s what I talked about in a nutshell…

For Corporate America, the big wild card in 2017 is going to be tax cuts. Without tax cuts, the companies in the S&P 500 are expected to see earnings rise 8% in 2017. With tax cuts, forecasted earnings growth could be as high as 20%. In the coming quarters, we should see plenty of market bellwethers guide higher for 2017, and the market should respond positively.

Now, whether the corporate tax rate is cut to 15%, 20% or 25%, I also expect to see more multinational companies repatriate their overseas cash. And much of that cash will go back into investors’ pockets through stock buybacks. Corporate America is already aggressively buying its stock back; given the low interest rate environment and moderate P/E ratios on Wall Street, I expect this trend to continue. And as the amount of shares outstanding shrinks, the market should melt up during the first few months of 2017.

The bottom line is that I have a bullish near-term outlook for the stock market. As we progress through 2017, I’ll continue briefing you on the latest company, market and economic news in this daily blog.

Sincerely,

Louis Navellier

Louis Navellier

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