Coming Soon? Dow Could Hit 20,000 By The End Of The Year

The Dow Jones Industrial average needs to gain 1,500 points before it can hit the 20,000 milestone. According to a report by CNBC, some analysts believe this impressive sounding level could be obtained by the end of the year.

CNBC, citing data compiled by Howard Silverblatt (a senior index analyst at S&P Dow Jones), reported the average year-end target among analysts for the Dow is now 20,003.93 which represents a 7.94 percent from Tuesday's close and a near 15 percent gain since January.

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If the Dow hits 20,000 by the end of the year, it implies the market survived China-related scares, a shocking Brexit outcome, domestic economic uncertainties, terrorist activity throughout the world, and other factors which would normally send investors fleeing the equity market.

Kate Warne, an investment strategist at Edward Jones, was quoted by CNBC as saying that the ride to 20,000 will be "bumpy" and depends on several factors, including earnings and monetary policy announcements from the Federal Reserve. Regardless, the pro expects the Dow to hit 20,000 but maybe not as soon as many bulls hope.

"I think the Dow is headed higher; we're still in a bull market," Warne said. "Whether it [hits 20,000] between now and the end of the year, I don't know."