Are we headed towards a bull market? Veteran investor weighs in
Despite the concerns of what might lie ahead for the global economy, one veteran investor is confident the U.S. markets will push higher from here.
When you looking at the overall performance of the S&P500, Edward Yardeni, president of Yardeni Research, told BNN Bloomberg in an interview on Friday that plenty of industries within the index have performed well and he doesn’t foresee the recent banking sector turbulence as a threat that will last.
“Once there’s more confidence that the banking crisis hasn’t morphed into an economy-wide credit crunch, I think the market goes higher,” he said.
At this point, he believes the markets are looking beyond the pessimistic forecasts and looking well into 2024, which he believes will be a good year for investors.
“I’d be viewing this as a bull market,” he added.
Yardeni is calling for the S&P500 index to reach 4,600 points by the end of 2023. The index traded at 4,130.62 as of early morning trading on Friday.
His investment strategy is focused on the U.S. market.
“I would be recommending risk on and I would be recommending overweighting the U.S. relative to the rest of the world,” he said.
When you looking at the overall performance of the S&P500, Edward Yardeni, president of Yardeni Research, told BNN Bloomberg in an interview on Friday that plenty of industries within the index have performed well and he doesn’t foresee the recent banking sector turbulence as a threat that will last.
“Once there’s more confidence that the banking crisis hasn’t morphed into an economy-wide credit crunch, I think the market goes higher,” he said.
At this point, he believes the markets are looking beyond the pessimistic forecasts and looking well into 2024, which he believes will be a good year for investors.
“I’d be viewing this as a bull market,” he added.
Yardeni is calling for the S&P500 index to reach 4,600 points by the end of 2023. The index traded at 4,130.62 as of early morning trading on Friday.
His investment strategy is focused on the U.S. market.
“I would be recommending risk on and I would be recommending overweighting the U.S. relative to the rest of the world,” he said.
