S&P 500 Index Will Extend Record Advance, Delphi’s Black Says
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The Standard & Poor’s 500 Index will extend its record rally as the U.S. central bank continues using economic stimulus as a way to reduce unemployment, according to Scott Black, president of Boston-based Delphi Management Inc.
He recommended buying shares of Ensco PLC, a London-based oil-drilling company, and Amdocs Ltd., which produces telecommunications software in Chesterfield, Missouri. Companies in the S&P 500 will earn about $105 a share this year, Black said. That’s a 3.9 percent increase from last year, data compiled by Bloomberg show.