Tags: ed yardeni | stocks | s&p 500 | record

Ed Yardeni: Stocks Will Soar 17 Percent Through Next Year

By    |   Thursday, 26 September 2019 08:38 AM

Investment guru Ed Yardeni predicts Wall Street’s bull-run stock market will continue to charge deeper into the record books.

The Yardeni Research president believes between now and the end of next year, the S&P 500 index will soar 17% from current levels.

“I’ve got 3,500 as my target for next year,” he recently told CNBC. “We’ll get there on higher earnings with maybe somewhat higher valuation as the perception continues to be that interest rates aren’t going up much, if at all,” said Yardeni, also a Newsmax Finance Insider.

Yardeni highlights the market’s recent composure for his latest bullish forecast.

He gives the drone attack on Saudi Arabia’s infrastructure as an example of what could have been easily viewed as a strong catalyst for a deep sell-off.

“That would have been a good opportunity to have a significant sell-off. Instead, it was pretty puny,” Yardeni said. “The market is hanging in there and should do better over the rest of the year.”

“This has been a very interesting bull market. It seems to every now and then let the leaders become laggards and the laggards become leaders. There is a lot of rotation going on in this market from the get-go,” he said. “I don’t know if I’d read too much into it,” he said.

“The economy is doing fine and the fundamentals for stocks moving higher are still intact,” Yardeni said.

Dr. Ed Yardeni is the President of Yardeni Research, Inc., a provider of independent global investment strategy research.

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Investment guru Ed Yardeni predicts Wall Street’s bull-run stock market will continue to charge deeper into the record books.
ed yardeni, stocks, s&p 500, record
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2019-38-26
Thursday, 26 September 2019 08:38 AM
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