Strategist Dwyer: S&P 500 Will Hit 1,575 by Year-End

“The stock market might have stumbled Wednesday, but it will soon resume its 3 ½-year rally, says Tony Dwyer, chief equity strategist at Canaccord Genuity investment bank.

Indeed, he tells CNBC the Standard & Poor’s 500 will hit 1,575 by year-end. That would represent a 10 percent gain from Wednesday’s close of 1,433. The index dipped 0.6 percent Wednesday.

Dwyer sees a correction to last for a bit first, sending the S&P 500 to 1,400, “but at the end of the day, we’re in the economic sweet spot,” he maintains. ”

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