It’s been a dizzying rollercoaster ride for investors so far this year. But Doug Peterson, the CEO of S&P Global, has reassuring words for investors. “I think the correction is over” he says.
He is in a position to make those kind of bold predictions. S&P Global is in the business of collecting data–especially market data. And it’s own S&P 500 Index has been rallying so far this year–up nearly 12 percent and inching toward its 2018 all-time high of 2900.
“Business conditions are still strong. Interest rates are low, they’re stable. You’ve got deregulation and you’ve got wage growth,” explains Peterson for the reasons behind his positive outlook. “A lot of the factors in the economy are actually quite strong and point to recovery in the market.”
He believes investors who dumped out of stocks during the 2018 sell off will return to the markets once they see the U.S. economy improving.
But Peterson still has his worry list. He cites slow growth in Europe and trade tensions with China. And his biggest concern is Brexit. He says the uncertainty about Britain withdrawing form the European Union is something Americans “should worry about.”
“The last thing we want to see is Europe slow down more than it already has because that could impact global growth,” Peterson says, adding, “and at the end of the day, American business as well.”
Watch the video above for more from my interview with Peterson.