S&P 500

Mistletoe Magic And The S&P 500 In 2026

Dec 24, 2025 3 min read

Mistletoe is relevant to several cultures. In the advent of the Christian era, mistletoe in the Western world became associated with Christmas as a decoration under which lovers are expected to kiss, as well as with protection from witches and demons. Let's hope its magic lasts into 2026 through next Christmas. The consensus among Wall Street investment strategists is that the magic will last. According to Bloomberg, their

Ed Yardeni

MARKET CALL: Seeing Reindeer & Solid S&P 500 Earnings

Dec 21, 2025 3 min read paid

We believe the S&P 500 has been in a Santa Claus rally since it bottomed on November 20 at 6538 (chart). It is up 4.5% since then through Friday's close. Over the past 10 years, the average increase in the S&P 500 from the start of November through the end of the year has added 4.5 percentage points to its return. The

Ed Yardeni

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 S&

Ed Yardeni
Joe Abbott

MARKET CALL: The Impressive S&P 493 Ready For Broadway In 2026

Dec 13, 2025 4 min read paid

The S&P 500's Magnificent-7 might be less magnificent in 2026 as their fierce competition in the AI race starts to erode the monopolies they have enjoyed in search (Google), software (Microsoft), retailing (Amazon), advertising (Meta), electric vehicles (Tesla), smartphones (Apple), and GPU chips (Nvidia). The beneficiaries of that competition are likely to be the S&P 500's Impressive 493. A week ago, we

Ed Yardeni

AI CALL: The TIME Curse & The Game of Thrones

Dec 11, 2025 3 min read paid

"The Architects of AI" are this year's TIME Person of the Year. We asked Google's Gemini, "Can you list when the front cover of TIME featuring Person of the Year has turned out to be a curse?" Gemini responded as follows: "While TIME Magazine maintains that "Person of the Year" is a measure of influence (for better or worse)

Ed Yardeni

More Thoughts On Bitcoin, Stablecoin & Gold

Dec 2, 2025 3 min read paid

We do not have an opinion on bitcoin because we don't have any way to value it. It has been widely called "digital gold." We've previously described bitcoin as "digital tulips." That makes us sound bearish since the famous Tulip Bulb Bubble burst in Amsterdam several centuries ago, once it was realized that the small Dutch market had run out of buyers

Ed Yardeni

Home Stretch For The Holidays

Nov 11, 2025 3 min read paid

The S&P 500 closed at 5881.63 at the end of last year. It is up 16.2% since then to 6846.61 today (chart). That beats the average 10.4% ytd gain at this point in the year over the past 10 years. The average annual increase over the past 10 years was 12.3%. If this turns out to be an average year, then the S&

Ed Yardeni

S&P 500 And Gold Price Racing Toward $10,000 By 2029?

Oct 16, 2025 4 min read paid

We first began writing about our Roaring 2020s scenario in 2020. So far, so good. Both the S&P 500 and the price of gold have been roaring ahead to new record highs this year (chart). We wouldn't be surprised if both hit 10,000 by the end of the decade. The stock price index and the gold price have exhibited an inverse cyclical correlation, but their

Ed Yardeni

MARKET CALL: Pullback, Correction, Or Meltdown?

Oct 12, 2025 3 min read paid

Trump Trade Turmoil hit the stock market hard on Friday as President Donald Trump raised the US tariff on Chinese imports from 30% to 130% in retaliation for China’s imposing severe export controls on its exports of rare earth minerals. This all happened ahead of a summit meeting between Trump and Chinese President Xi scheduled for later this month. On Friday, Trump said he might not attend, then changed

Ed Yardeni

What Is The Stock Market Discounting?

Oct 2, 2025 3 min read paid

The stock market is discounting the ongoing resilience of the economy and corporate earnings. It is discounting that the odds of a recession over the rest of the Roaring 2020s are low. The longer the economy is expected to grow without a recession, the more sustainable high valuation multiples can be, since earnings growth can be expected to justify those valuations (chart). High valuations don't cause bear markets.

Ed Yardeni

Earnings-Led Meltup?

Sep 8, 2025 3 min read paid

Ed Yardeni

MARKET CALL: Apocalypse Now?

Sep 7, 2025 3 min read paid

President Donald Trump on Saturday amplified his promises to send National Guard troops and immigration agents to Chicago by posting a parody image from "Apocalypse Now" featuring a ball of flames as helicopters zoom over the nation's second-largest city. "I love the smell of deportations in the morning," Trump wrote on his social media site. "Chicago about to find out why it'

Ed Yardeni

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