Veteran Wall Street Investor Downplays Recession Odds: 'Current Bull Market Has More Support From Earnings'
Portfolio Pulse from Piero Cingari
Veteran Wall Street investor Ed Yardeni downplays recession odds, citing strong earnings support for the current bull market. He notes recent market volatility with mega-cap stocks declining and small/mid-cap stocks rising, but believes the selloff is temporary. Yardeni highlights the importance of upcoming economic reports and substantial inflows into US equities as positive indicators.
July 23, 2024 | 12:57 pm
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Ed Yardeni suggests that the recent selloff in the S&P 500, tracked by SPDR S&P 500 ETF Trust (SPY), is temporary and supported by strong earnings.
Yardeni's analysis indicates that the current bull market, including SPY, is supported by strong earnings. The recent selloff is seen as temporary, suggesting a positive short-term outlook for SPY.
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