) rolls further back below 40,000. Yardeni Research President Ed Yardeni forecasts the Dow shooting up as high as 60,000 by 2030.
I think increasingly it's becoming clear that interest rates are simply normalized back to where they were before the great financial crisis.So I don't think that we actually need the fed to cut interest rates for the market to continue to go up on earnings.So, do you, what you, what's gonna be the main sort of tail wind for the continued gains in earnings that you are expecting?We have a shortage of skilled workers.
So put it all together and you've got a uh AAA great scenario for the market to continue to move higher.A lot of which is based on A I, at least that's where the hype is. Uh The the market didn't do a very good job of that in 2022 expecting a recession that never happened, but usually recessions are caused by credit crunches.
Uh And then in April, we had to sell off as, as you typically do when there are too many bulls and not enough bears.But uh all in all, I think the market uh is uh is in good shape from a fundamental perspective in terms of earnings, uh, the valuation is, is, is definitely stretched, but all in all, um, with the economy doing well and, uh, the first quarter earnings season turning out to be really better than expected.
It, I don't wanna see that either, but I'm all in favor of giving the Fed a few months off, maybe till the end of the year as well. -- Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion.
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