Joe Abbott

Raising Our S&P 500 Earnings & Price Targets Outlook Due To FEMO (Fabulous Earnings Momentum)

Aug 11, 2026 4 min read

I. Quarterly Earnings Per Share What a fabulous Q2-2026 earnings season it has been! So far, 90% of S&P 500 companies have reported. They broadly crushed industry analysts' forecasts for earnings and profit margins, both of which saw a boost from mark-to-market (MTM) gains from Alphabet and Amazon for a second straight quarter. These MTM gains (along with Meta’s little-mentioned gain from

Ed Yardeni
Joe Abbott

US MARKET CALL: MTM & Chips' Profit Margin Distorting S&P 500 Earnings, But FEMO Lives On!

Jul 25, 2026 6 min read paid

I. Stocks Stop the music! S&P 500 earnings per share (EPS) have been significantly distorted by huge capital gains on investments by Alphabet and Amazon and a tax-related gain from Meta. Because GAAP accounting rules force companies to record unrealized equity gains and losses directly on the income statement, a small group of tech and venture-heavy mega-caps can create significant noise in the S&

Ed Yardeni
Joe Abbott
Toby Hearst

Is There Enough IPO Money On Planet Earth To Fund SpaceX?

Jun 1, 2026 4 min read

The mega IPOs are coming. SpaceX is set to go public on June 12, raising $75 billion to $80 billion at a market valuation of up to $1.8 trillion. It will be the largest equity offering in history. Then, Anthropic and OpenAI are expected to go public with market capitalizations of $1 trillion to $1.75 trillion each. Fears are mounting that the "AI-3" IPOs will

Ed Yardeni
Toby Hearst
Joe Abbott

S&P 500 With & Without The Magnificent-7

Dec 18, 2025 4 min read paid

We are declaring "Mission Accomplished" on our 7000-year-end target for the S&P 500. The index rose to a record high of 6901 on December 11. That's close enough for us and might be the high for this year. We aren't ruling out a Santa Claus rally over the remainder of the year. However, that is unlikely to happen if the

Ed Yardeni
Joe Abbott

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Raising Our S&P 500 Earnings & Price Targets Outlook Due To FEMO (Fabulous Earnings Momentum)

US MARKET CALL: MTM & Chips' Profit Margin Distorting S&P 500 Earnings, But FEMO Lives On!

Is There Enough IPO Money On Planet Earth To Fund SpaceX?

S&P 500 With & Without The Magnificent-7