The Dow will hit 32,000 in 2020, White House trade advisor Peter Navarro predicted. “It’s going to be the roaring 2020s next year,” he said yesterday.
The "phase one" trade deal between the U.S. and China is a certainty at this point, Navarro said, adding the accord isHe also alluded to potential trade priorities for the Trump administration in 2020, including a new deal with a post-Brexit United Kingdom and other countries.
"Next year, 2020, we're going to try to get something going with Great Britain, Vietnam, Europe and anybody else who wants to fairly trade with the United States of America," Navarro said.On "Squawk Box" the morning after Trump was elected in November 2016, Navarro said it was "a very bullish thing for the markets" and predicted Dow 25,000 during the Trump presidency, a 38% increase from then-current levels around 18,000.
With one day left in 2019, the Dow was up 22% for this year alone. The S&P 500 broader market measure is tracking for its best year since 2013, with a 28.5% advance for 2019 as of Monday's close. Looking at the S&P 500's performance during recent administrations' first three years since Election Day, Trump leads the way with gains of more than 50%. George H.W. Bush saw a nearly 48% increase,
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