Ed Yardeni

GLOBAL MARKET CALL: 'Go Global' Should Outperform When Strait Reopens

May 31, 2026 4 min read paid

Our call to Go Global rather than Stay Home has paid off so far this year, despite the latest war in the Middle East, which boosted Stay Home, especially in March. However, Go Global was mostly driven by the AI trade in South Korea and Taiwan. The Emerging Markets MSCI ETF (EEM) is up 25.4% ytd against 10.9% for the S&P 500. Moreover, we recommended staying

Ed Yardeni
Toby Hearst

ECONOMIC WEEK AHEAD: JUNE 1-5

May 30, 2026 4 min read

The S&P 500 climbed to another record high on Friday, closing at 7,580.05. Fabulous earnings momentum (FEMO) and falling oil prices boosted stock prices. Brent crude settled at $92.05 a barrel, the lowest weekly close since April 17. Axios reports that the US and Iran have reached a ceasefire-extension deal, pending President Trump's approval. The odds that the US blockade of the

Ed Yardeni
Toby Hearst

US MARKET CALL: FEMO-Driven Stock Market Meltup

May 30, 2026 5 min read

As stock prices continue to soar, fears of an AI bubble are increasing. The tech bubble of the 1990s was driven by fear of missing out (FOMO). This time, fabulous earnings momentum (FEMO) is driving tech stock prices higher. An earnings-led meltup like this should be more sustainable than a P/E-led meltup fueled by irrational exuberance. That’s especially true of FEMO meltups, like this one, that

Ed Yardeni
Toby Hearst

Inflating, But Not Stagnating

May 28, 2026 5 min read paid

The three major US stock market price indexes (i.e., the S&P 500, Nasdaq, and DJIA) rose to record highs again today. So did the Russell 2000. Leading the way higher were technology stocks. Driving stock prices higher was a report that the US and Iran have "mostly agreed" to extend their ceasefire by 60 days. The market ignored a warning from ExxonMobil that oil inventories

Ed Yardeni
Elias Griepentrog

Gold Ready To Shine Again?

May 28, 2026 2 min read

This is a quick QuickTakes on gold. Its price seems to be holding above its 200-day moving average on news that Iran and the US have reached an agreement on a memorandum of understanding to extend their ceasefire for 60 days, but President Donald Trump has yet to approve it, according to Reuters. The price of gold peaked at a record $5,318 per ounce on January 29 (chart)

Ed Yardeni

What Could Possibly Go Wrong?

May 27, 2026 5 min read paid

The bull case for the stock market remains intact. The S&P 500 rose to yet another record high today. The economy and the labor market remain resilient. Consumers are spending. The AI boom is boosting capital spending. Corporate earnings are soaring on strong revenues growth and higher profit margins. The odds of a recession in 2026 fell to 19% today, the lowest reading of the year (chart). Stock

Ed Yardeni
Toby Hearst

WEEKLY WEBCAST: FOMO vs FEMO (Fabulous Earnings Momentum)

May 27, 2026 paid

🔒Exclusive Early Access for Paid Members: Below, you'll find Dr. Ed's latest webcast. Paid members can enjoy immediate access to the video. This content will become available to the public at a later date—don't miss out on early insights, consider upgrading today!

Ed Yardeni

Retiring Baby Boomers & The G-Shaped Economy

May 26, 2026 5 min read paid

Many economists continue to question the resilience of consumer spending in the US. The naysayers don't believe it's sustainable and continue to expect significant consumer retrenchment. They claim that the economy is "K-shaped," with the wealthiest 10% of households accounting for 50% of all retail spending. Those widely quoted numbers are from Moody's Chief Economist Mark Zandi. They make no sense

Ed Yardeni
Elias Griepentrog

GLOBAL MARKET CALL: US-Iran Deal Would Boost Go Global Investment Strategy

May 25, 2026 5 min read paid

On Sunday night, Reuters reported that oil prices slipped to a two-week low as US-Iran talks seemed to be moving closer to a peace deal. Then again, the news service also reported that President Donald Trump is in no rush to make a deal and that the US will continue to blockade Iran. If so, then Iran will continue to blockade the Strait of Hormuz. Nevertheless, Japan'

Ed Yardeni
Toby Hearst

CONSUMER DISCRETIONARY: Another Concentrated Sector

May 24, 2026 3 min read paid

We recommend a market-weight position in the S&P 500 Consumer Discretionary sector. At first glance, the sector looks strong. Its stock price index is near a record high, forward earnings is rising, and the forward P/E has held in the mid-20s (chart). The surface-level fundamentals are attractive. Look closer, and the strength narrows. Consumer Discretionary is up just 2.3% ytd, ninth among the

Ed Yardeni
Toby Hearst

US MARKET CALL: FOMO vs FEMO (Fabulous Earnings Momentum)

May 24, 2026 5 min read paid

The stock market has had an exuberant stretch since the S&P 500 bottomed on March 30. The index is up 17.8% since then through Friday, after hitting a record high on May 14. The DJIA rose to a record high this past Friday. The bears say the exuberance is irrational, driven by lots of excitement about AI. We say it is rational, based on our Buzz Lightyear

Ed Yardeni
Toby Hearst

ECONOMIC WEEK AHEAD: May 25-29

May 24, 2026 3 min read

The US financial markets are closed on Monday for Memorial Day, and the holiday-shortened week is light on economic data releases. On Thursday, the second estimate of Q1-2026 GDP will be reported alongside April's core PCED, the Fed's preferred inflation gauge. Eight Fed officials speak over the week. With little fresh data to help investors gauge whether the FOMC is turning more hawkish, they’

Ed Yardeni
Toby Hearst

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