Veteran Investor Boosts S&P 500 Price Targets: 'Magnificent 7 Stocks Will Remain Magnificent'
Portfolio Pulse from Piero Cingari
Veteran investor Ed Yardeni has raised his year-end target for the S&P 500 to 5,800 points, implying a 6% surge. He forecasts the index could reach 6,300 points in 2025 and 6,825 points in 2026 under a 'Roaring 2020s scenario.' Yardeni expects strong earnings and technological advancements to drive these gains, with the 'Magnificent 7' stocks providing significant support. Despite a bullish outlook, he anticipates near-term volatility due to election uncertainties and expects the Federal Reserve to cut interest rates by 25 basis points in September.
July 30, 2024 | 9:26 pm
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Ed Yardeni has raised his year-end target for the S&P 500 to 5,800 points, implying a 6% surge. He forecasts the index could reach 6,300 points in 2025 and 6,825 points in 2026 under a 'Roaring 2020s scenario.'
Yardeni's bullish forecast for the S&P 500 directly impacts SPY, which closely replicates the index. The raised targets and positive earnings outlook suggest potential gains for SPY.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100