He added that price-to-earnings ratios — or PE ratios, which compare a company’s stock price with the amount of money it brings in — are below average. That means the stock market overall could be undervalued, McCall said.
“Ask yourself: Do I want to own stocks for the next 10 years?” he said. “If you say yes, then you need to be in now.”
The S&P has grown about 9% so far in 2019, but it lost 5.3% over the course of 2018.
McCall said he thinks the biggest threat to continued market gains in 2019 comes from the US political climate. But he thinks the trade standoff between the United States and China will come to an end soon, which would be a major boon for stocks in both countries.
Matthew Ceslock, an equity trader with Virtu Financial, agreed with that prediction.
“If we can solve this China tariff war by the end of this month, that’s going to provide a big, big tailwind to this market,” he said.
Top negotiators for the Trump administration are due to arrive in Beijing next week to continue talks ahead of a March deadline. Both sides are looking to reach a permanent deal to end a months-long trade standoff.
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