The S&P 500 is on track to reach a historic 10,000 milestone by the end of 2029, propelled by an unprecedented wave of corporate profitability rather than a speculative bubble, according to veteran market strategist Ed Yardeni.
The president of Yardeni Research stated he is aggressively lifting his long-term targets, admitting that he is among the people who "haven't been bullish enough" on the market's current record-breaking trajectory.
The Roaring 2020s Speaking on CNBC, Yardeni stated that the broader market is firmly entrenched in a massive economic expansion that continues to defy skeptical Wall Street forecasts.
"It sure feels like the Roaring 2020s are here," Yardeni said, noting that the U.S. economy has successfully navigated persistent geopolitical and macroeconomic disruptions.
Rather than being driven by a speculative fear of missing out, Yardeni attributes the record-breaking rally directly to robust corporate performance.
