S&P 500 Earnings

MARKET CALL: Super-Duper Earnings

Nov 1, 2025 3 min read

S&P 500 earnings per share continue to beat expectations. Q3 earnings per share are on track to rise to a new record high. They are driving the S&P 500 stock price index to new record highs. The Magnificent-7 are leading the way higher on both fronts. As a result, the S&P 500 market-weight index continues to outperform the equal-weight index (chart). On Friday, Amazon

Ed Yardeni

A Bubble In Bubble Fears?

Oct 5, 2025 3 min read

We are raising our year-end S&P 500 target back to 7000. We started the year there, but lowered it earlier this year in response to Trump's Tariff Turmoil. We began raising our forecast again during the spring, when we concluded that the tariff issue would no longer impact the stock market by the end of the summer. We bet the resilience of the economy would boost

Ed Yardeni

Q3's Earnings Season Is Coming

Sep 24, 2025 2 min read

Before you know it, September will be over. It is likely to defy the month's reputation of being a bad one for stocks (chart). Instead, the S&P 500 rose to a new record high of 6693.75 on Monday, September 22. October has also experienced some painful stock market setbacks, although the month has often provided good buying opportunities following poor September performances. Q3's

Ed Yardeni

Powell's Irrational Exuberance Moment

Sep 23, 2025 2 min read

During a speech in Providence, Rhode Island today, Fed Chair Jerome Powell was asked whether he and his colleagues give any weight to the impact of their monetary policies on financial markets. He responded: "We do look at overall financial conditions, and we ask ourselves whether our policies are affecting financial conditions in a way that is what we're trying to achieve.” Then he opined that "

Ed Yardeni

Earnings-Led Meltup?

Sep 8, 2025 3 min read paid

Ed Yardeni

MARKET CALL: Stocks Discounting Fed Put

Aug 24, 2025 3 min read

Ever since the release of the weaker-than-expected July employment report at the start of this month, stock investors have been betting that the Fed Put is back in play and that it will probably be implemented at the FOMC's meeting on September 16-17. Fed Chair Jerome Powell had been pushing back against this notion since early this year by saying that the Fed is in no rush to

Ed Yardeni

MARKET CALL: Will Powell Be Hawkish, Dovish, Or Owlish In The Grand Tetons?

Aug 17, 2025 3 min read members

The 2025 Jackson Hole Economic Policy Symposium will focus on "Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy." The symposium is scheduled for August 21-23. It's an annual event hosted by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming, bringing together central bankers, policymakers, economists, and academics to discuss important economic issues and long-term policy challenges. Fed Chair Jerome Powell will speak

Ed Yardeni

MARKET CALL: Is The Sky The Limit?

Aug 10, 2025 3 min read paid

The S&P 500 nearly matched its July 28 record high on Friday. The Nasdaq did rise to a record high. Once again, the Magnificent-7 stocks collectively are leading the pack. That's because these remarkable companies continue to deliver magnificent earnings, which are increasingly being driven higher by the demand for cloud computing as AI increasingly powers the Digital Revolution. The sky seems to be the limit

Ed Yardeni

Stocks Up As Mullahs Ready To Talk, Again

Jun 16, 2025 3 min read paid

Stock prices rose this morning as oil prices fell a bit on news reports that the Mullahs want Israel to stop pounding them and are willing to resume nuclear talks with the US as long as the US doesn't start pounding them too. Israel has established air superiority over Iran by knocking out most of the country's air defense systems. Israel is now focusing on knocking

Ed Yardeni

MARKET CALL: Meltup Again? (Do We Have Nothing To Fear But Nothing To Fear?)

Jun 8, 2025 3 min read paid

The stock market has become tariff-scare-proof now that the S&P 500 is only 2.3% below its February 19 record high despite Trump's Tariff Turmoil (TTT) since then. After Friday's better-than-expected employment report, the stock market has also become recession-scare-proof. According to Polymarkets, the odds of a recession were back down to 27% on Friday from a recent peak of 66% on May 1

Ed Yardeni

Another Happy-Go-Lucky Day

Jun 3, 2025 3 min read paid

Ed Yardeni

MARKET CALL: S&P 500 Earnings & Valuation

May 31, 2025 4 min read paid

We now have LSEG’s I/B/E/S data for S&P 500 companies’ revenues per share and earnings per share during Q1. Both edged down on a q/q basis but showed solid gains on a y/y basis (chart). The profit margin edged up to 13.3%. Notwithstanding Trump's Tariff Turmoil (TTT), the economy remains resilient, supporting an upbeat outlook for revenues. Earnings should

Ed Yardeni

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