Authorization

Stocks will soar 14% by the end of next year on unyielding optimism, long-standing bull Ed Yardeni says

Stocks will soar 14% by the end of next year on unyielding optimism, long-standing bull Ed Yardeni says
Reuters



The stock market is "discounting lots of good news through the end of next year" and will rally into 2022, strategist Ed Yardeni said in a Wednesday note.




The longtime bull raised his S&P 500AtargetsAto 3,500 for this year and 3,800 for 2021.




Stocks remain in the same melt-up that began in late March, and expectations for strong profit growth should keep prices rallying for several months, Yardeni said.




Indexes' initial leap on Tuesday's news of a Russian coronavirus vaccine also shows how stocks will react to good news down the road, he added.




Watch the S&P 500 update live here.




Unprecedented stimulus and stocks' overwhelmingly bullish trend will drive the S&P 500 another 5% higher this year and 14% through the end of 2021, renowned strategist Ed Yardeni said Wednesday.
The S&P sits less than 10 points away from notching an all-time record, most recently soaring on rebounding tech giants. The index's strong rally will likely continue through the year and render previous forecasts quite conservative, Yardeni said.
The strategist pulled his 2021 target for the S&P 500 forward by one year, calling for the index to reach 3,500 over the next few months. He also boosted his 2021 target to 3,800.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«     2020    »
 123456
78910111213
14151617181920
21222324252627
282930