(Phoenix) How does the chairman of DWS Scudder’s Investor Strategy Committee feel about the market’s short-term potential? Robert Froehlich, aka Dr. Bob, forecasts the market will be up 7 percent to 8 percent in the fourth quarter.
The market’s late ’06 rally, explains Froehlich, is based on strong profits and earnings, which have been expected to rise 12 percent in 2006. He says it’s more likely that earnings will be up 15 percent vs. ’05.
Froehlich shared these views Oct. 27 during Commonwealth Financial Network’s national conference, held at the JW Marriott Desert Ridge Resort & Spa. This came on the heels of DWS Scudder’s five-week, 37-event road show.