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For many investors, the end of 2018 can't come soon enough. Ahead of the new year, CNBC asked four Wall Street heavyweights what they're expecting in 2019.
Jeff Saut
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Jeff Saut, Raymond James' chief investment strategist, told CNBC that stocks likely hit a low and a "Santa Claus rally" may have already started. If the S&P 500 index holds near 2,583, the rally will gain momentum as the earnings and economic outlook for 2019 remains encouraging.
Jay Bryson
Two of the more notable themes in 2019 will be wages and inflation, Wells Fargo Securities global economist Jay Bryson told CNBC. If the labor market remains tight, the Federal Reserve could introduce more rate hikes than expected, he said
"What happens if wages really start to accelerate as we go through 2019 and that really starts to put some upward pressure on prices?," he said. "Instead of talking only two rate hikes next year, I'm going to talk about what happens if they actually start to go four, because inflation really starts to pick up."
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Anastasia Amoroso
A bigger factor of stock movement in 2019 will be earnings revisions, Anastasia Amoroso, global investment strategist at JPMorgan Private Bank, told CNBC. EPS estimates for 2019 are calling for 8-percent growth, and this figure "looks a little bit high" given market conditions, she said.
Jim Paulsen
Leuthold Group Chief Investment Strategist Jim Paulsen told CNBC that if concerns of a recession escalate, it can create a "real buying opportunity," but only if "people are wrong and we don't recess." Panicked investors will sell assets at "very cheap prices," which implies the other side of the trade is presented with a "great buying opportunity," he said.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.