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Ed Yardeni, the president of Yardeni Analysis, expects the S&P 500 to achieve 5,400 by year-end.
The economist and funding skilled named his goal Thursday on CNBC’s “Squawk Field,” the place he additionally referred to the present market, led by synthetic intelligence-related shares, as “the roaring 2020s.”
The S&P 500 and the Dow Jones Industrial Common each hit all-time highs throughout buying and selling Thursday as Nvidia, the AI market phenom, surged over 16%, hitting a file $785.60, after reporting better-than-expected fourth-quarter earnings. The S&P 500 surpassed 5,094.
Yardeni additionally agreed with the Federal Reserve’s sign that it might minimize rates of interest this yr solely two or thrice, not the 5 to seven that many out there had anticipated.
“Why mess with success? Inflation’s coming down, the financial system’s robust, the labor market’s doing effectively, and now we’ve bought the roaring 2020s within the inventory market, led by Nvidia,” he mentioned.
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