With the S&P 500 about one percent from its all-time highs, Wall Street bull Edward Yardeni is predicts a record breakout is coming.will soar 17% from current levels." on Friday. "We'll get there on higher earnings with maybe somewhat higher valuation as the perception continues to be that interest rates aren't going up much, if at all."
He gives the drone attack on Saudi Arabia's infrastructure last weekend as an example of what could have been easily viewed as a strong catalyst for a deep sell-off. Yardeni, who spent decades on the Street running investment strategy for firms that include Prudential and Deutsche Bank, builds his bullish case on the notion that Washington and Beijing agree to a trade war deal, a strong U.S. jobs market that'll keep consumers spending and a global economy on the mend due to easy central bank policies.
TradingNation I don’t see financials outperforming. While bank funding costs are very low, rates of return on bank assets is keeps falling, and older loans at higher rates are replaced with newer loans at lower rates.
TradingNation Heck, he already knows the size of the high and the time, that's a real wizard market or will be a joke? 😂😂😂
TradingNation I predict they won’t!
TradingNation If things are that good, why do we cut the rate? Guess we need three more shots after we got drunk to make the experience even more exciting.
TradingNation Ed Yardeni is one of smartest analysts on such things.
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