From Deseret News archives:
Midvale firm predicts a 'healthy' 2006
At its seventh annual economic forecast, Cannon Tingey Investment Advisors expressed optimism that 2006 barring extraordinary shocks would be a good, though not eye-popping or shriek-inducing, year for the U.S. economy,
"We believe that sometime in 2006, we'll see a Dow 12,000 number," said Jon D. Tingey, a principal with the firm. "We're very constructive about the stock market. We see a lot of brightness. There's a lot of negative news out there, but there's also a lot of positive things going on. We're very constructive, and very optimistic about the economy, and particularly the capital markets."
The American economy proved itself "remarkably resilient" in 2005, despite a disappointing dip in the fourth quarter, Cannon Tingey principal Alan B. Tingey said. Through hurricanes Katrina and Rita, the energy price spikes and rising interest rates, consumers remained active and businesses continued to report record profits.
This year should see some of those concerns allayed, Alan Tingey said. The Federal Reserve likely will raise short-term interest rates only once or twice more. Inflation will hold at a "controllable" 2.5 percent to 3 percent rate, said Jon Tingey, while corporate profits continue to see upwards of 10 percent growth.
Energy prices should peak and moderate and, as the real estate market cools, more money likely will again be directed at the capital markets. Jon Tingey predicted that the S&P 500 market could see a 12 percent increase over the next 12 months.
"A year from now, we'll be talking about 2006 at about 3 percent to 3.5 percent (economic) growth, which is good," Jon Tingey said. "It is a very sound, fundamental, sustainable, dependable rate of growth."
E-mail: jnii@desnews.com
Recent comments
I have to smirk at this article. Cannon tingey manages rich peoples...
For bias news read the "news" | Oct. 27, 2008 at 10:21 p.m.
- Haws playing like a veteran 12:36 a.m.
- Hot Rod behind mic for Lakers 12:35 a.m.
- Jazz go up against 'the best' 12:33 a.m.
- Sports on the air 12:26 a.m.
- Bobcats stun high-flying Nuggets 12:23 a.m.
- Utes finally get to host Michigan 12:18 a.m.
- Flash apologize, offer refund 12:12 a.m.
- Editorial: Leave the economy alone 12:12 a.m.
- Dishonest global warming scientists 12:12 a.m.
- Tensions in Ceuta 12:12 a.m.
- BYU football: Bronco weighs in on Hall
- Snow brings big chill
- Yet again, we learn BCS is a big joke
- Andersen apologizes for Jordan hoax
- Cougars in better mood about bowl
- Ranking the bowl games
- Williams' late jumper tops Spurs
- $2M error could mean layoffs
- Expert calls Mitchell delusional
- Witness: Mitchell stalked victims
- Y. profs: Beck not all-knowing
278 - Letters: Global warming a lie
214 - TCU to play Boise in Fiesta Bowl
205 - BYU football: Bronco weighs in on Hall
165 - Cougars going back to Vegas
148 - Utah/BYU rivalry can be more civil
143 - George lost in rivalry hatefest
119 - Andersen apologizes for Jordan hoax
110 - Ed Smart 'appalled' at testimony
99 - Revive full food tax?
94
Pittsburgh Post-Gazette writer Joyce Gannon offers the following advice...
It will be good to hear "real play by play or even as analyst with Joel...
i hope hot rod gets confused while doing the play by play and thinks he's...
The BCS bowl team match-ups aren't what you think. First, yes the top two...
Even Ed Gein was found competant to stand trial.
So Bronco's okay with the churches "standard bearers" spewing hatred. Wierd....
By putting TCU & Boise together that means that the other 3 BCS games will...
Ticky... Tacky...
The DNews requests the lists from the region coaches. Ask your coaches why...
This story brings back memories of an Ogden base ball team, who promiced if a...
GO UTES!!!

