Tags: Yardeni | stocks | bull | market

Yardeni: Bull Market Is Alive and Well

By    |   Thursday, 23 October 2014 08:15 PM

After the S&P 500 index dropped 10 percent from its Sept. 19 record high last Wednesday, some investors fretted that the five-year bull market was over.

Fear not, says Edward Yardeni, president of Yardeni Research.

"It was not too long ago, a week ago, where this market was experiencing another one of these panic attacks," he told CNBC.

"This has been a bull market that's had lots of panic attacks, and when the world doesn't come to an end, we have these enormous relief rallies. And that's still the characteristic of this bull market." 

The S&P 500 has rebounded 7 percent from last Wednesday's low.

Strong third-quarter earnings reports and falling oil prices bode well for stocks, Yardeni said.

"Fundamentally, we're in good shape. And so, I think the fears about Ebola, the fears about Germany going into recession, the fears that the dollar was going to depress earnings, they all seem to be behind us already."

Stocks also may benefit in coming weeks from strong holiday sales, says MarketWatch columnist Jeff Reeves

The National Retail Federation predicts a 4.1 percent rise in holiday spending this year from 2013. That compares to a 3.1 percent increase last year and an average appreciation of 2.9 percent for the last decade. 

"If you’re looking for a reason to believe in a big turnaround for stocks, spending could be it," Reeves writes.

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After the S&P 500 index dropped 10 percent from its Sept. 19 record high last Wednesday, some investors fretted that the five-year bull market was over. Fear not, says Edward Yardeni, president of Yardeni Research.
Yardeni, stocks, bull, market
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2014-15-23
Thursday, 23 October 2014 08:15 PM
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