A weekend note from noted analyst Ed Yardini with a strong bullish outlook on US equities.
Forecasts:
- S&P 500 to 6,100 for the end of 2024
- 7000 for end 2025
- 8,000 for 2026
- 10,000 by the end of the decade
Citing:
- “We expect to see animal spirits in measures of consumer and business optimism in coming months as occurred when Trump was elected in 2016.”
- stock market seemed “thrilled” about Trump’s win,and the potential for a 'red sweep', moving to price a more “pro-business” (tax cuts and deregulation) environment
- increased forecast for the S&P 500’s 2026 operating EPS to $320 from $300
- Could see a “meltup” in equities, that, in turn, would “set the stage for a meltdown.”
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Earlier:
- Buffett's Berkshire Hathaway hoarding cash in a pattern seen before the financial crisis
- JP Morgan on surging stocks, crypto - the signs of rally fatigue to watch for
