|
COPYRIGHT 2003 Knight-Ridder/Tribune Business News
By Don Shilling, Vindicator, Youngstown, Ohio Knight Ridder/Tribune Business News
Jan. 13--YOUNGSTOWN, Ohio--Area stockbrokers expect a payoff for investors who stuck with stocks through three years of losses.
All five brokers participating in The Vindicator's annual stock-picking contest expect the stock market to rebound this year.
Some expect a large bounce. Two brokers expect the Dow Jones industrial average to jump more than 20 percent this year, while others predicted slightly smaller increases.
An improving economy will boost profits for companies, and a presidential election in 2004 will encourage the government to foster economic growth, said Jim Thomas, owner of Thomas Brokerage and Financial Planning in Niles.
"The market is due for a turnaround. People are looking for an excuse to get back in the market," he said.
Thomas is the most optimistic of the brokers who gave an estimate for the Dow, which is made up of 30 large-company stocks. He predicted a Dow close of 10,800, a 29 percent increase over its 2002 close of 8,341.
The Dow's 17 percent loss last year followed a 7 percent drop in 2001 and 6...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
