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Larry Kudlow, the economist and former adviser to President Ronald Reagan, said he’s bullish on stocks because profits are rising, inflation is low and consumer confidence is high.
“I’m very bullish on stocks. A 5 percent to 10 percent correction would make me more bullish,” Kudlow said on CNBC.
Dow - Jones - Industrial - Average - Loss
The Dow Jones Industrial Average posted the first weekly loss in the past three weeks as investors fretted over increased political tensions between the U.S. and North Korea. President Donald Trump on Tuesday warned of “fire and fury like the world has never seen” in response to North Korea’s expansion of its nuclear weapon efforts. The U.S. intelligence community believes North Korea has developed mini nuclear warheads that can be fitted into missiles capable of reaching the U.S., The Washington Post reported.
Kudlow said he’s optimistic about stocks because of healthy economic indicators.
Profits - Rate - Increase - Inflation - Tax
“Profits are rising. I don’t care what the rate of increase necessarily is, they’re just rising,” he said. “Low inflation is a tax cut for consumers and businesses and everything. We’re getting lower than expected inflation. That’s a huge tax cut on the whole economy and it’s going to help a lot as we go forward.”
The consumer price index, a measure of inflation published today by the Labor Department, rose 0.1 percent in...
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