Stock Market Outlook for 2015 and 2016 Remains Positive, Despite Declines in Oil
Although stock values have been moving in close tandem with oil prices, the cyclical bull market has at least two years left, says Wells Fargo strategist Scott Wren.
Oil prices ended a four-day rally on Wednesday, pushing stocks slightly lower. Although stock values have been moving in close tandem with oil prices, Wells Fargo Investment Institute's senior global equity strategist Scott Wren thinks the cyclical bull market has at least two years left, if not more. TheStreet's Scott Gamm caught up with Wren to discuss his markets outlook, why now isn't the time for investors to move into defensive stocks and what sectors to watch out for in 2015. Wren's year-end target price for the S&P 500 remains in the range of 2,150 to 2,250, which he says is a "very doable" level.
