Strategists Stovall and Parker Bullish on Stocks for 2013

Thursday, 29 Nov 2012 08:29 AM

By Dan Weil

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Sam Stovall, chief equity strategist at Standard & Poor's Capital IQ, and Adam Parker, chief market strategist at Morgan Stanley, expect the stock market to rise once again next year.

The Standard & Poor’s 500 has climbed 10 percent so far in 2012.

The U.S. economy’s rebound, particularly the housing sector; rising earnings; and continued easing by the Federal Reserve will help push stocks upward, the duo say. And the crises that some have forecast won’t come to fruition, they maintain.

Editor's Note: See the Disturbing Charts: 50% Unemployment, 90% Stock Market Crash, 100% Inflation

Stovall anticipates the S&P 500 will end next year at 1,550, up 10 percent from Wednesday’s close.

"At first blush, it seemed like an inopportune time to commit to a year-ahead target and outlook, what with so many global uncertainties in our path," Stovall told CNBC.

"But most of these uncertainties have been with us for quite some time, and are now regarded by many as annoyances to resolve rather than obstacles to fear."

Parker sees "low- to mid-single-digit upside" for the S&P 500 in 2013, forecasting a finish of 1,434, up Wednesday close of 1,410, according to CNBC.

For now, government budget negotiations are dominating the stock market. “The market remains fixated on what’s going on in Washington,” Frederic Dickson, chief market strategist at D.A. Davidson & Co., tells Bloomberg.

“The lack of progress in resolving major fiscal cliff issues is topic A.”

Editor's Note: See the Disturbing Charts: 50% Unemployment, 90% Stock Market Crash, 100% Inflation

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