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Q&A with Nick Massey: What’s lies ahead for the Dow, dollar, gold and more
What lies ahead for the Dow, dollar, gold and more
Nick Massey is the regional vice president of The Householder Group. Photo provided
Multimedia
Q: What do you expect the Dow Jones Industrial Average to do in 2010?
A: I think the overall market is getting overpriced, but that doesn’t mean it can’t go higher for awhile longer. We could see a small correction by late January and then maybe work its way back up to around 11,300 by March. I do expect it to stall sometime after that, if not before, and head lower during the second half of 2010 with the Dow falling back to the 8,500 level by year end.
Q: What’s your take on oil prices during the year?
A: Oil looks like it could inch higher in a volatile fashion over the coming months and eventually get as high as $100 a barrel. However, geopolitical tensions, particularly in the Middle East, could drive prices higher if war breaks out. Barring that, however, I don’t see oil getting much above $100 this year and could even decline some when the economy slows again.
Q: How will the general U.S. economy fare, and where do you see interest rates heading?
A: I think we will see positive GDP growth in the first and second quarter, mostly due to inventory rebuilding. However, because we are still in the early stages of massive deleveraging in the U.S. and globally, we have a long way to go before that process is done.
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