“I think Santa is checking into a home,” said Art Cashin, director of floor operations at UBS.
When asked if the Dow would reach the 20,000 mark this year, he replied, “I don’t think so.”
Art Cashin is always a good read. Dow 20,000 will come in 2017 when the Federal Reserve needs to step in to introduce another stimulus plan. Things could potentially go sour and liquidity will be the main issue. Liquidity is a problem over in China right now. Both a rate increase and Trump policies are two known large roadblocks in the way that could lead the mass exodus out of stocks and investment in America for some years to come. Of course, job creation in America is great long term, but for Trump’s whole first term things will not be easy.