On Monday’s broadcast of the Fox News Channel’s “Ingraham Angle,” White House Senior Counselor for Trade and Manufacturing Peter Navarro said that the market is “finding a bottom” at the moment, predicted that the Dow Jones will surge in the future and argued that the gains in the S&P 500 over the past couple years “have been basically seven stocks, the magnificent seven, the AIs. Most of the stocks in the S&P 500 have gone nowhere. Now, they’re going to go crazy” due to increased investment in the United States.
Navarro said, “[W]hat I see is 50,000 on the Dow. I predicted, in 2016, the day after the president got elected, back then, when the futures were dead red down, I said we were going to go to 25,000. I got that exactly right. We’re going to 50.”
He continued, “But, more importantly, with the S&P 500, the gains we’ve had over the last couple of years have been basically seven stocks, the magnificent seven, the AIs. Most of the stocks in the S&P 500 have gone nowhere. Now, they’re going to go crazy. They’re going to go so bullish, because we’re bringing our investment home.”
Later, he added that the market is “finding a bottom now.”
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