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Stocks' 'Remarkable Resilience' Can Boost Market 12%

Mark Kolakowski

John Stoltzfus, chief investment strategist at Oppenheimer, remains stubbornly bullish on stocks as many investors worry that the nine-year bull market may be derailed by geopolitical crises, peaking economic growth, inflationary pressures, and rising interest rates. Stoltzfus is sticking with his forecast that the S&P 500 Index (SPX) will end 2018 at a value of 3,000, which would be a 12.3% advance from the April 23 close,  according to CNBC. The key drivers are "continued improved earnings, improved revenues, and an economy that shows sustainability at a level [of GDP growth] around 2.5 percent to perhaps better," he said, per CNBC.