The president of Yardeni Research believes that the S&P 500 can keep climbing to new all-time highs en route to shattering 8,000 by the end of the year.
In a new CNBC interview, veteran strategist Ed Yardeni says he is raising his year-end target for the stock market index to 8,250.
Trending: Report: Teen Brain Dead After Falling from Car During Celebration After San Antonio Spurs’ Win
According to Yardeni, fundamentals are driving the market’s ascent rather than investor speculation.
“I think it’s actually the obvious reason, and that is earnings. I’ve been recently talking about FOMO versus FEMO. FEMO’s fabulous earnings momentum. And that’s really what’s been driving the market, not FOMO, not fear of missing out.”
Looking at the stock market’s performance in the last few years, Yardeni says the depth and liquidity of the US capital markets are powering technological advancements and sustained economic growth.
“It was about 2024 that everybody was talking about American exceptionalism. And then the whole thesis kind of
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!