Sonders: Sees Dow Potentially Reaching 12,500, Boosted by QE2
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Charles Schwab Chief Investment Strategist Liz Ann Sonders said Thursday on CNBC that the Dow Jone Industrial Average could reach the 12,000 to 12,500 range.
“I think that the QE2 announcement is what triggered the rally,” Sonders said. “We have a decent fundamental underpinning that was less obvious a couple months ago, and now becoming more obvious.”
Sonders believes that the robust earnings from the previous quarter will help carry the market's strength into 2011.
On Thursday in midday market movement, the DJIA is up 0.75 percent to 11,339.67.
“I think that the QE2 announcement is what triggered the rally,” Sonders said. “We have a decent fundamental underpinning that was less obvious a couple months ago, and now becoming more obvious.”
Sonders believes that the robust earnings from the previous quarter will help carry the market's strength into 2011.
On Thursday in midday market movement, the DJIA is up 0.75 percent to 11,339.67.
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