Personal finances could be set for rebound in 2010, analysts say
Several stock market experts recently told MSNBC that, although the market remains volatile and unattractive to justifiably skittish investors, the general recovery should slowly but surely continue through the end of 2010.
The cable news network reports that John Silva, Wells Fargo Securities’ chief economist, said that “everything is moving in the right direction. It’s just not moving as fast as they want to see. They want black and white and you’ve got gray.” Silva’s best guess for the end of 2010 is that the S&P 500 index will rise by between 3 percent and 5 percent.
Other experts who spoke to MSNBC were even more bullish, including J.P. Morgan Private Wealth Management’s Anthony Chan, who predicted an increase of 6 percent to 9 percent. Chan told the news network that, despite still-murky economic predictors, the general outlook is solidly positive.
The cautious optimism among economic experts could mean that American consumers will experience fewer problems with their personal finances, and those with significant stock market holdings may be among the first to reap the benefits of the end of the recession.