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Dec 27, 2023
12/23
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want to bring in yardeni research president ed yardeni.s is more than just a santa claus rally then? >> absolutely. this santa claus rally started early, it started back on october 27th. i think it reflects the fact that investors are becoming more confident that there is no recession in sight, inflation is coming down faster than expected. the federal reserve is done raising interest rates. the only question is how much will they cut interest rates next year so that's all very bullish. charles: so i've got your list here in tiny print. i will read some of it for the awed youngers. someone tweeted at me the lists are getting more complicated, charles. don't worry about it i got you. consumers have purchasing power. houses are healthy and liquid. i want to start there. i feel like the average consumer is spending purchasing power. rich people have a lot of money. i think they're wealthy and they're liquid, what happens when this starts to dry up? >> that is a very important question. there are a lot of concerns because of income wealth and
want to bring in yardeni research president ed yardeni.s is more than just a santa claus rally then? >> absolutely. this santa claus rally started early, it started back on october 27th. i think it reflects the fact that investors are becoming more confident that there is no recession in sight, inflation is coming down faster than expected. the federal reserve is done raising interest rates. the only question is how much will they cut interest rates next year so that's all very bullish....
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i want to bring in ed yardeni. you know i love to pick your pain on this stuff. you are one of the most optimistic wall street gurus out there. can we blame your cognitive ability on that? >> maybe. i like to keep it simple. the simple reality stocks do well over the long term. all the smart people tell you when to get out almost never tell you when 20 get back in. charles: always tell you when to get out all the way up which is another frustrating thing for a lot of investors who rely on financial media and that sort of thing. >> yep. charles: i see where you pointed out record high wage growth, record high employment, moderating inflation, these are sort of underpinnings of a santa claus rally. friday we get the jobs report. where we see wages start to stall and maybe hints the economy may hit a hard landing rather than a soft landing? >> i'm not terribly worried about that. i do think wages are going to be growing faster than prices but i think it will be sustainable because i think it will be based on productivity. second and third quarter productivity number
i want to bring in ed yardeni. you know i love to pick your pain on this stuff. you are one of the most optimistic wall street gurus out there. can we blame your cognitive ability on that? >> maybe. i like to keep it simple. the simple reality stocks do well over the long term. all the smart people tell you when to get out almost never tell you when 20 get back in. charles: always tell you when to get out all the way up which is another frustrating thing for a lot of investors who rely on...
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Dec 20, 2023
12/23
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joining me now, ed yardeni, founder of yardeni research. ed, good morning. great to have you here. >> thank you. >> let's jump into it. your target for next year, the most bullish on the street, what are you seeing that others may not be seeing? what's the catalyst for this big rise? >> i've been seeing a resilient economy since really early last year. early last year i agreed with the concerns that we might be in a recession, but i said it was a rolling recession hitting different indices at different times. i think that's played out well over the past couple of years. i'm seeing rolling recoveries as we go into next year. housing certainly looks like it's bottomed. we had a very strong number for housing starts yesterday. i think retailing is bottoming. i think the commercial real estate recession is still ahead of us, but it's going to stale contained particular play in old office buildings. the key has been remarkably resilient and a lot of people say they're going to run out of excess savings during the pandemic. that's still plenty of job openings and
joining me now, ed yardeni, founder of yardeni research. ed, good morning. great to have you here. >> thank you. >> let's jump into it. your target for next year, the most bullish on the street, what are you seeing that others may not be seeing? what's the catalyst for this big rise? >> i've been seeing a resilient economy since really early last year. early last year i agreed with the concerns that we might be in a recession, but i said it was a rolling recession hitting...
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Dec 18, 2023
12/23
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ed yardeni with us right now. in there, including one with the equal weights. i want to bring that one up for the audience. >> sure. charles: looks like you're suggesting equal weight is just breaking out versus market weight and maybe there is a lot more room to the upside? >> i think so. i think the reason this is happening is because investors are getting much more comfortable with the idea that the federal reserve is done raising interest rates. now the big question is, what are they going to do next year and everybody seems agree that they will be lowering interest rates. the disagreement by how much f they don't do a lot, that will be because the economy is doing fine. if they do a lot, it will be because the economy is going into recession. investors are getting come possibilitiable with the idea we went very recession in 2024. we didn't have it in 2022 and 2023 the notion that there interest rates are not going hire and economy is benefit something, benefiting smaller and mid-cap stocks. charles: what do y
ed yardeni with us right now. in there, including one with the equal weights. i want to bring that one up for the audience. >> sure. charles: looks like you're suggesting equal weight is just breaking out versus market weight and maybe there is a lot more room to the upside? >> i think so. i think the reason this is happening is because investors are getting much more comfortable with the idea that the federal reserve is done raising interest rates. now the big question is, what are...
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Dec 11, 2023
12/23
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that's ed yardeni. >>> up next, tracking the biggest movers.onvinced of a job despite fda approval, cryptocurrency is taken a breather today. we go for the numbers right after this break. [ "i'll be seeing you" by the five satins ] ♪ ♪ at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire all right. 60 seconds to draw the perfect gift. what's it gonna be? a bottle of don julio, 1942, delivered. delivered with drizly. gifting without the guessing. drizly. we're about 17 minutes from the closing bell. let's get back now to kristina partsinevelos with a key stop she's watching. christina? >> i'm watching crisper therapeutics, it's done about 7% despite
that's ed yardeni. >>> up next, tracking the biggest movers.onvinced of a job despite fda approval, cryptocurrency is taken a breather today. we go for the numbers right after this break. [ "i'll be seeing you" by the five satins ] ♪ ♪ at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. your...
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Dec 12, 2023
12/23
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folks get it started with my next guest, yardeni research president ed yardeni.d, i tell you my man, you know how to stay in the news [laughter]. your new target, i want to say whoops he did it again, your new target, 6,000. how do we get there? >> first of all, let me put some dates on it. next year, at end of next year i'm seeing 5400 which has been my target since beginning of this year. at beginning of this year i thought 4600. we're there. i think we'll get to 5400 by the end of next year. in 2025, by the end of that year i think we'll be looking at 6,000. so i think we started a long-term bull market back in october. i think the way we get there is the way we've always gotten there. solid growing economy with earnings. i think earnings in 2026 for the s&p 500 could be something like $300 a share. right now looks like this quarter is coming in at something like, look as though this year will come in at $220 a share. charles: of course your theme for the a while has been the roaring '20s, right? >> right. charles: in the 1920s, there were young women out ther
folks get it started with my next guest, yardeni research president ed yardeni.d, i tell you my man, you know how to stay in the news [laughter]. your new target, i want to say whoops he did it again, your new target, 6,000. how do we get there? >> first of all, let me put some dates on it. next year, at end of next year i'm seeing 5400 which has been my target since beginning of this year. at beginning of this year i thought 4600. we're there. i think we'll get to 5400 by the end of next...
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charles: i will say ed yardeni is at 5400. hottest guy in my mind on the street with broad calls. >> agree. charles: where do you think? your guesstimate where we end next year? i don't want to touch the telestrator, i think around 5500. 55 sounds about right we still have enough bears out there. when the market goes down, charles as you and i know the bears come out of woods. with the market going up, stabilization on rates, fed speak my god the bears are gone. where were they all along? they will come back when the market goes down that pushes it up. charles: you're contrarian with the experts? when the experts are contrarian you say fullish? >> when everyone starts tell my, telling you, even when my mom calls, hey, got extra couple hundred bucks, what should i buy, market will go down thanks to you. if you got calls happening, get money out of peoples vice grips to get it invested that is good time when markets tend to do very well. charles: talk about a couple names you're buying right now, merck and costco. tell us the ra
charles: i will say ed yardeni is at 5400. hottest guy in my mind on the street with broad calls. >> agree. charles: where do you think? your guesstimate where we end next year? i don't want to touch the telestrator, i think around 5500. 55 sounds about right we still have enough bears out there. when the market goes down, charles as you and i know the bears come out of woods. with the market going up, stabilization on rates, fed speak my god the bears are gone. where were they all along?...
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Dec 12, 2023
12/23
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ed yardeni says it is achievable for the s&p to his 5,400 by the end of 2024. he has a target of 6,000 by 2025. tom lee and john stotzfus is predicting 5,200. and we have sayta predicting 5,000. joining us now is john stoltzfus. john, great to you have back with us. not every strategist gets it right every year. we understand that. take us through what exactly drove your thought process with the 2023 price target on, which was accurate, and you why think 2024 could continue? >> thanks, dom, for having me on the show. first and foremost, when it came to 2023, we were recognizing the fact that the fed had been remarkably successful at beginning the process in 2022 of raising interest rates somewhat dramatically at one point when it raised four times in a row, 75 bps a piece. then remarkably sensitive to the effects of the mandate on the economy in terms of raising rates, but not raising them overall in such a way to push the economy into recession. in addition to that, you had resilience that remains today in labor and wages and businesses being able to maneuver
ed yardeni says it is achievable for the s&p to his 5,400 by the end of 2024. he has a target of 6,000 by 2025. tom lee and john stotzfus is predicting 5,200. and we have sayta predicting 5,000. joining us now is john stoltzfus. john, great to you have back with us. not every strategist gets it right every year. we understand that. take us through what exactly drove your thought process with the 2023 price target on, which was accurate, and you why think 2024 could continue? >>...
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Dec 29, 2023
12/23
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. >> i want to throw in ed yardeni. he said meltups can going on like icarus, they get too close to the sun. in other words they can lead to meltdowns. >> when you take nvidia out, just nvidia. we've focused on the mag seven. the market is up like 16%. we wouldn't talk about touching the sun. oh, that's nice. the market was down 16% and 18%. one of the things i think is super important going into 2024 is to stop talking about the market and the s&p, and this goes into the small cap conversation, what rob was saying before, let's focus on what's been left behind. i've been calling them nonparticipants. when we think about next year, let's try to redirect the conversation a little bit away from just the s&p and think more broadly. i think what the winning play will be next year is breadth, breadth, breadth. the dividend stocks or value or small cap, take your pick. none of those areas are kissing the sun. >> let's continue to talk about the s&p. the rally's next big test will be fourth quarter earnings that will come out
. >> i want to throw in ed yardeni. he said meltups can going on like icarus, they get too close to the sun. in other words they can lead to meltdowns. >> when you take nvidia out, just nvidia. we've focused on the mag seven. the market is up like 16%. we wouldn't talk about touching the sun. oh, that's nice. the market was down 16% and 18%. one of the things i think is super important going into 2024 is to stop talking about the market and the s&p, and this goes into the small...
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Dec 27, 2023
12/23
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. >> ed yardeni is talking about the s&p hitting 5400. >> here is what makes me nervous -- >> you feel euphoria makes you more nervous. >> totally. i know you're coming up on tom lee, he's pretty good. it's the lowest bearish number they've had in years and years. >> that's why people are starting to say the only thing to fear is the fact there's nothing to fear. >> 100% and we've seen that time and again. the more bullishness, the more uncomfortable i am. i asked patti to send me the rundown this day last year. you see everybody is happy again. there's too much euphoria, too much expectation. people buy at the top and sell at the bottom. >> joe doesn't. that's why he wrote the book, sell high and buy higher. >> you can play this broadening out. it is real, it's happening. the expectation not only is there rate relief, there's balance sheet relief. just think where we were six months ago talking about all these unrealized losses. six to nine months from now finally the russell 2000 is going to come out of the earnings recession. i think you're going to get the broadening out. when i he
. >> ed yardeni is talking about the s&p hitting 5400. >> here is what makes me nervous -- >> you feel euphoria makes you more nervous. >> totally. i know you're coming up on tom lee, he's pretty good. it's the lowest bearish number they've had in years and years. >> that's why people are starting to say the only thing to fear is the fact there's nothing to fear. >> 100% and we've seen that time and again. the more bullishness, the more uncomfortable i...
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Dec 11, 2023
12/23
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gabriella santos, ed yardeni has a huge mark for stocks in the next couple of years.:00. let's do final trades, farmer jim. >> cisco systems. you may remember when it reported earnings it gave disappointing guidance. the stock and the estimates all had to reset and that's been done. in the last few days you've seen nice momentum in it and expect that to continue for this eddie eddie dividend payer. >> okay. jason snipe? >> i like goldman sachs. underwriting is clearly bottoming and you can position here in 2024. >> joe t.? >> chip name we don't speak much about, kla corp and a reasonable valuation and the chips exploding higher and it will go higher. >> why is it up 5%. chips up higher and broadcom up 8%. >> thanks for noting that. >> the dow's good about 91. we have the cpi tomorrow, and retail sales later in the week and we have a lot to cover this week with you. i'll see you in a couple of hours. "the exchange" is now. >> thanks very much, scott. i'm dominic chu in for kelly evans this afternoon and here's what's ahead. inflation data, the final bond auctions of th
gabriella santos, ed yardeni has a huge mark for stocks in the next couple of years.:00. let's do final trades, farmer jim. >> cisco systems. you may remember when it reported earnings it gave disappointing guidance. the stock and the estimates all had to reset and that's been done. in the last few days you've seen nice momentum in it and expect that to continue for this eddie eddie dividend payer. >> okay. jason snipe? >> i like goldman sachs. underwriting is clearly...
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Dec 26, 2023
12/23
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joining us right now is ed yardeni, great to have you on the team. thank you for much -- very much for coming on. you have a 5400 price target on the s&p by the end of next year. by the optimism? >> then 6000 by the end of 2025. i think this is a bull market that has legs that is going to continue to charge ahead. the optimism is fundamentally based on the notion that we had a recession this past year. it has been a rolling recession. the rolling recession to started in 2022 and now, as we look ahead a year, we are looking at rolling recovery and a lot of sectors that went into recession but the overall economy is proving to be remarkably resilient, particularly the consumer. i think what we are seeing here is a significant relief rally in that we are not going to have an economy wide recession on the inflation effect can come down without a recession. >> you just heard our session with jharonne on retail. people continue to spend. are you shocked still at the level of just confidence the consumer is showing? >> well, they're showing it by spending.
joining us right now is ed yardeni, great to have you on the team. thank you for much -- very much for coming on. you have a 5400 price target on the s&p by the end of next year. by the optimism? >> then 6000 by the end of 2025. i think this is a bull market that has legs that is going to continue to charge ahead. the optimism is fundamentally based on the notion that we had a recession this past year. it has been a rolling recession. the rolling recession to started in 2022 and now,...
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Dec 27, 2023
12/23
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. >> there's not much caution from ed yardeni.e was on "closing bell" yesterday and had this to say about his target for where he thinks the s&p can go next year and thereafter. >> 5,400 by the end of next year and 6,000 by the end of 2025. i think this is a bull market that has legs that's going to continue to charge ahead. i think what we're seeing here is a significant relief rally, and the relief that we're not going to have an economy-wide recession, and the relief is that inflation can come down without a recession. >> i mean -- >> that's the optimistic case. >> yeah. well, one of many. as targets come out and some targets have come out -- i think we were talking yesterday that even targets that came out a month ago are being revised higher. david kostin had this target of 4,700, and the market takes off, and he says, maybe i need to reassess. you got a lot of targets at 5,100. you've got tom lee, a little bit higher than that. you've got yardeni talking these big round numbers by the end of next year and thereafter. you bet
. >> there's not much caution from ed yardeni.e was on "closing bell" yesterday and had this to say about his target for where he thinks the s&p can go next year and thereafter. >> 5,400 by the end of next year and 6,000 by the end of 2025. i think this is a bull market that has legs that's going to continue to charge ahead. i think what we're seeing here is a significant relief rally, and the relief that we're not going to have an economy-wide recession, and the...
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Dec 28, 2023
12/23
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. >> ed yardeni -- all the bulls are out because the rally's broadening out.e says, "we conclude that the rolling recession for goods producers and distributors may be bottoming but has yet to turn into a rolling recovery." that could be a catalyst for the market, too, if we actually expect momentum to be picking up, and i -- you know, if you look at the goldman-sachs economic forecast, they expect consumer spending to be better. they expect growth to come in better at 2%. that's not what people were expecting at this stage of a fed tightening cycle. >> why can't we get consumer sentiment higher? the market is telling us that the economy is still in good shape, and yet, the investing public doesn't seem to be believing it. it's remarkable to me there's a disconnect between the markets and what the general public seems to be believing. they seem to think inflation is still out of control and that the economy is slipping into a recession, and the market doesn't believe it. i don't think the economic evidence is there. the economic evidence is inflation is coming
. >> ed yardeni -- all the bulls are out because the rally's broadening out.e says, "we conclude that the rolling recession for goods producers and distributors may be bottoming but has yet to turn into a rolling recovery." that could be a catalyst for the market, too, if we actually expect momentum to be picking up, and i -- you know, if you look at the goldman-sachs economic forecast, they expect consumer spending to be better. they expect growth to come in better at 2%....
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Dec 26, 2023
12/23
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yardeni you're looking for more gains, also goldman sachs raising its forecast the last few days fromt numbers on the whole day shopping season and speaking with the president and cofounder of card lists. the s&p 500 and the nasdaq up at that level in bitcoin all 3%, and we have wti crude $75.87 a barrel. quiet trading but you get the feeling there is some conviction at the margins. for our bloomberg radio listeners, continue to listen. this is bloomberg. ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ sonali: this is bloomberg markets. vonnie: i am vonnie quinn. mastercard data shows holiday sales rose 3.1% this year, a slower pace than 2022 was sales from november 1 through december 24 grew at a rate of 7.6%. for more perspective on holiday spending let's bring in the president and cofounder of cardless who has issued and launch more credit cards than any bank in the last two years, so you are well-placed to know what is going on wit
yardeni you're looking for more gains, also goldman sachs raising its forecast the last few days fromt numbers on the whole day shopping season and speaking with the president and cofounder of card lists. the s&p 500 and the nasdaq up at that level in bitcoin all 3%, and we have wti crude $75.87 a barrel. quiet trading but you get the feeling there is some conviction at the margins. for our bloomberg radio listeners, continue to listen. this is bloomberg. ♪ (sfx: stone wheel crafting) ♪...