It’s looking more likely that President-elect Donald Trump will preside over a continuing U.S. expansion that could take its place as the longest among American business cycles, according to Deutsche Bank AG. And Chief U.S. Equity Strategist David Bianco predicts that by the time the real estate mogul takes office in January, the S&P 500 Index will eclipse 2,250.
Investors are under-appreciating the
“much higher chance now of a long lasting economic expansion that rivals the 10 year U.S. record,” the strategist writes “We’re more confident now that the S&P will reach 2,500 in 2018 before suffering its next bear market.” The longest U.S. expansion on record stretched from 1991 until 2001, a span of 120 months. That streak will be broken if the American economy makes it until 2019 without a recession. READ MORE