Set Your U.S. Recession Calendar for 2018, Canaccord Says
The U.S. economy will lay the groundwork for higher stock prices by staying out of recession for the next two years, according to Canaccord Genuity Inc.’s Tony Dwyer. In a report this week, the equity strategist cited below-zero readings for indexes of credit conditions, market leverage and financial-industry risk compiled by the Federal Reserve Bank of Chicago, along with other indicators. Dwyer wrote that the S&P 500 Index will reach 2,340 next year, up 7.6 percent from his estimate of 2,175 this year.