Stocks could continue to go higher at least through the end of the first quarter given the massivestimulus out of Washington and the Fed's purchase program, according toGuggenheim 'sScott Minerd .- The chairman of investments and global CIO told CNBC on Thursday "Stocks have a green light...I probably would think that at least through the end of the first quarter it's a pretty safe place to be investing money."
- Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates. Meanwhile President-elect Joe Biden laid out plans for a $1.9 trillion stimulus injection on Thursday.
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Guggenheim's Scott Minerd indicated he's bullish on stocks in the near-term during a Thursday CNBC interview.
"I'm a pretty conservative guy but right now given the Fed purchase program, the idea that we're gonna get a lot of stimulus out of Washington. I think stocks have a green light," said the global chief investment officer.
Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates, a signal Minerd said will be good for stocks.
On the fiscal aid front, President-elect Joe Biden laid out plans for a $1.9 trillion stimulus injection on Thursday. That number equates to around 9% of US GDP.
While Minerd acknowledged there are always risks in investing, he said putting money into equities right now is likely a safe bet for investors.
"I probably would think that at least through the end of the first quarter it's a pretty safe place to be investing money, I mean on a relative basis," he said.
Minerd also said that
That could take "years," Minerd added.