Stock Market

The stock market is driven by two key variables: the earnings estimates of industry analysts and the valuation multiple that investors are will to pay for those expectations. These QuickTakes monitor the latest developments relevant to stock investors.

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Tug of War Between the Bulls and Bears

Apr 14, 2022 2 min read

Why has the stock market held up reasonably well in the face of a more hawkish Fed, more vigilant Bond Vigilantes, a 1970s-style wage-price spiral, depressed consumer and small business confidence, and the war on the eastern front? Consider the following: (1) While the S&P 500's forward P/E is weighed down by both rising inflation and tightening credit conditions, we estimate that there is still

Ed Yardeni

April brings good news

Apr 6, 2022 1 min read paid

Ed Yardeni