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Strategist believes S&P 500 hitting 4,900 this year is still achievable

Although the S&P 500 (^GSPC) is higher this year, it has lost about seven percent since July. Oppenheimer Asset Management Managing Director and Chief Investment Strategist John Stoltzfus joins Yahoo Finance Live to discuss his 4,900 year-end point target on the S&P 500. The 4,900 point target for the S&P 500 “looks like it’s still very possible,” Stoltzfus says. Stoltzfus notes that we have to take into account “what’s caused the market… to go through this tizzy that it’s going through,” which is a “combination of seasonality, there were various options, expiries that also occurred.” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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