S&P 500 Earnings

MARKET CALL: Earnings Powering The Bull Market

Jan 11, 2026 3 min read paid

The Q4-2025 earnings reporting season starts with the big banks this week. They are likely to deliver solid earnings, as loan demand is growing, net interest margins are widening, loan losses are manageable, and investment banking is booming. Other S&P 500 industries are also likely to deliver very good results. Indeed, we expect S&P 500 companies’ aggregate revenues per share, earnings per share, and profit margin

Ed Yardeni

MARKET CALL: Don't Cry For Him, Venezuela

Jan 4, 2026 4 min read paid

We expected the first half of 2026 to be volatile for stocks. It's only January 4, and we can add Venezuela to our list of unsettling developments. Nicolás Maduro, the Venezuelan president captured by the United States on Saturday, is being held in a notorious Brooklyn jail. President Donald Trump said the US will "run" Venezuela. The geopolitical fallout could be troublesome. The Chinese government might

Ed Yardeni

MARKET CALL: Both AI Story And Contrary Indicators Are Mixed

Dec 27, 2025 4 min read

The AI plot thickens: Chinese scientists have unveiled an optical computing chip that outperformed Nvidia’s top GPU by over a hundredfold in speed and energy efficiency—particularly for generative tasks such as video production and image synthesis. (Incidentally, YRI is working with a Korean media company that will use AI to synthesize Dr Ed’s speech in various languages.) One of our sage accounts observed that AI may be

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

MARKET CALL: Time To Meditate

Nov 23, 2025 5 min read

The S&P 500 is back on a slower track than the fast track it was on since April 9 until the end of October. It no longer is outpacing its average year-to-date performance over the past 10 years (chart). In fact, it is up 12.3% ytd, matching the average year-end performance of the past 10 years. However, the S&P 500 did peak at a record-high

Ed Yardeni

Bad Day For the Big Short, Thanks To Dip Buyers

Nov 10, 2025 2 min read paid

Today was not a good day to be short AI stocks like Nvidia (up 5.8%) and Palantir (8.8%). They both rebounded dramatically, along with other AI stocks following last week's selloff (chart). Investors and traders bought the dip again. It's hard to short stocks in a bull market. The Magnificent-7 rose 2.8% today after falling 3.4% last week. The AI trade remains

Ed Yardeni

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

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