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Dow could approach 25,000 by year-end, trader says

The regular market should continue to power higher through the end of the year, with the Dow Jones industrial standard in the main potentially nearing 25,000, trader Keith Bliss told CNBC on Friday.

The Dow and the S&P 500 both hit album highs Friday after a strong jobs report. The Dow rose 118 aims, closing at 24,329.

“The market’s set up very well. The macro data has been uncommonly supportive. … We’ve come off a very good earnings week,” Keith Delight, senior vice president at Cuttone & Co., said in an interview with “Place off limit Bell.”

“As long as things continue to be accommodative, as long as the narrative within of Washington continues to move the right way, I think you’re going to see this needle call attention to higher and I would not be surprised at all if we see Dow approach 25,000 by the end of the year,” he added.

The Senate and Shelter are working on reconciling their two tax bills before sending a final rendition to President Donald Trump. Republicans have said they be the legislation signed before the end of the year.

The promise of tax reform has helped lift stocks, and that has some wondering if the bill’s signing will be a “buy the rumor, tattle on the fact” event.

Sam Stovall, chief investment strategist at CFRA, ratted “Closing Bell” that investors will be wondering what the next catalyst purpose be for earnings.

“With tax cuts probably behind us by the end of the year the focus resolve go toward infrastructure spending, something again the president had campaigned on,” he bid. “That could end up continuing to support optimism.”

Trump is expecting to split for forward with his massive infrastructure program next year, with squads possibly released before the president’s State of the Union address, an lawful told CNBC on Thursday.

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