# Ed Yardeni: S&P 500 to 3,500 by Dec 31, 2020

Updated Sep 29, 2026 · Web page: https://predictionverifier.com/predictions/ed-yardeni-sp500-3500-by-2020/

Ed Yardeni's prediction that S&P 500 would reach 3,500 by December 31, 2020 came true. S&P 500 closed at 3,508 on August 28, 2020, the first close at or above the target. Ed Yardeni made the call on CNBC on August 12, 2020, when S&P 500 was at 3,334. The target needed a 5% rise in five months.

| Field | Value |
|---|---|
| Status | Hit |
| Person | [Ed Yardeni](https://predictionverifier.com/people/ed-yardeni/) |
| Asset | [S&P 500 (SPX)](https://predictionverifier.com/assets/sp500/) |
| Outlet | CNBC |
| Said on | Aug 12, 2020 |
| Quote | “The head of Yardeni Research said he now sees the S & P 500 heading to 3,500 by the end of 2020, a sizeable jump from his previous estimate of 2,900 and a 5% increase from Tuesday's close.” |
| Price when said → target | 3,334 → 3,500 |
| Change | +5% from the price when said |
| Deadline | Dec 31, 2020 |
| Deciding close | First close at or above the target: 3,508 (Aug 28, 2020) |
| Source | [CNBC](https://www.cnbc.com/2020/08/12/ed-yardeni-raises-his-sp-500-forecast-for-2020-and-next-year.html) |
| Archive | [Archive](https://web.archive.org/web/20221206030549/https://www.cnbc.com/2020/08/12/ed-yardeni-raises-his-sp-500-forecast-for-2020-and-next-year.html) |
| How we check | [How we check predictions](https://predictionverifier.com/how-we-check-predictions/#touch) |
| Public ID | #50bf2 |

## What was said

[Ed Yardeni](https://predictionverifier.com/people/ed-yardeni/) · President and Chief Investment Strategist, Yardeni Research · 9 predictions · 6 hit · 1 missed · 2 open

CNBC, Aug 12, 2020 · [Source](https://www.cnbc.com/2020/08/12/ed-yardeni-raises-his-sp-500-forecast-for-2020-and-next-year.html) · [Archive](https://web.archive.org/web/20221206030549/https://www.cnbc.com/2020/08/12/ed-yardeni-raises-his-sp-500-forecast-for-2020-and-next-year.html)

> The head of Yardeni Research said he now sees the S & P 500 heading to 3,500 by the end of 2020, a sizeable jump from his previous estimate of 2,900 and a 5% increase from Tuesday's close.

Yardeni said a market melt-up began on March 23, when the Fed announced it would buy corporate bonds, followed days later by the $2.2 trillion CARES Act. He argued that this policy mix, together with the 'There Is No Alternative' trade, explained the rebound in stocks. He also noted rising credit-market stress and bankruptcies and warned of the risk of a meltdown, but said the market would likely keep rising.

## How we checked this

The prediction comes true if any daily close from Aug 12, 2020 to Dec 31, 2020, inclusive, is at or above 3,500. Prices are daily closes, not intraday highs.

- Price when said: 3,334 (Aug 11, 2020) · [price data](https://www.cnbc.com/quotes/.SPX)
- Deciding close: 3,508 (Aug 28, 2020) · [price data](https://www.cnbc.com/quotes/.SPX)

[How we check predictions](https://predictionverifier.com/how-we-check-predictions/)

## More from Ed Yardeni

- [Ed Yardeni: S&P 500 at or above 8,250 on Dec 31, 2026](https://predictionverifier.com/predictions/ed-yardeni-sp500-8250-by-2026/) · Open · 7,580 → 8,250 · Deadline Dec 31, 2026 · #3571d
  “In a new CNBC interview, veteran strategist Ed Yardeni says he is raising his year-end target for the stock market index to 8,250.”
- [Ed Yardeni: S&P 500 to 10,000 by Dec 31, 2029](https://predictionverifier.com/predictions/ed-yardeni-sp500-10k-by-2029/) · Open · 7,399 → 10,000 · Deadline Dec 31, 2029 · #38eac
  “Nevertheless, for now, we are sticking with our 10,000 target for the S&P 500 by the end of 2029”
- [Ed Yardeni: S&P 500 to 7,000 by Dec 31, 2025](https://predictionverifier.com/predictions/ed-yardeni-sp500-7000-by-2025/) · Missed · 6,729 → 7,000 · Deadline Dec 31, 2025 · #f0d42
  “Yardeni argues that corporate earnings have been prolific enough to keep the market afloat, and he predicts that the S&P 500 is about to rally once again, crossing 7,000 by the end of the year.”
- [Ed Yardeni: Gold to $5,000 by Dec 31, 2026](https://predictionverifier.com/predictions/ed-yardeni-gold-5k-by-2026/) · Hit · $3,886 → $5,000 · Deadline Dec 31, 2026 · #6976a
  “We are now aiming for $5,000 in 2026”
- [Ed Yardeni: S&P 500 at or above 6,500 on Dec 31, 2025](https://predictionverifier.com/predictions/ed-yardeni-sp500-6500-by-2025/) · Hit · 5,844 → 6,500 · Deadline Dec 31, 2025 · #30b4c
  “The president of Yardeni Research raised his year-end target for the S & P 500 back up to 6,500 from 6,000.”

## Other S&P 500 predictions

- [Tom Lee: S&P 500 at or above 8,000 on Dec 31, 2026](https://predictionverifier.com/predictions/tom-lee-sp500-8000-by-2026/) · Open · 7,365 → 8,000 · Deadline Dec 31, 2026 · #266cb
  “We are giving a mid-year update and raising our year-end target for S & P 500 to 8,000 from 7,700.”
- [Mike Wilson: S&P 500 to 3,900 by Dec 31, 2023](https://predictionverifier.com/predictions/mike-wilson-sp500-3900-by-2023/) · Missed · 4,328 → 3,900 · Deadline Dec 31, 2023 · #e247b
  “Wilson now forecasts the S & P 500 to fall to 3,900 by the end of 2023.”
- [Tom Lee: S&P 500 at or above 3,125 on Dec 31, 2019](https://predictionverifier.com/predictions/tom-lee-sp500-3125-by-2019/) · Hit · 2,918 → 3,125 · Deadline Dec 31, 2019 · #379a0
  “In a note to clients, the co-founder of Fundstrat Global Advisors raised his S&P 500 year-end target to 3,125 from 2,925, which represents a 7% gain from Thursday's 2,917 close.”
- [Tom Lee: S&P 500 to 2,835 by Dec 31, 2019](https://predictionverifier.com/predictions/tom-lee-sp500-2835-by-2019/) · Hit · 2,597 → 2,835 · Deadline Dec 31, 2019 · #b4a6b
  “In his latest investor note released Friday morning, Lee predicted the S&P 500 would hit 2,835 by the end of the year.”
- [Mike Wilson: S&P 500 at or above 2,750 on Dec 31, 2019](https://predictionverifier.com/predictions/mike-wilson-sp500-2750-by-2019/) · Hit · 2,633 → 2,750 · Deadline Dec 31, 2019 · #c4f85
  “Mike Wilson, chief equity strategist at Morgan Stanley, said in a note that he "sees more of the same" stagnant performance from the major indexes in 2019 and forecasts the S&P 500 finishes next year at 2,750, just 3 percent above current levels.”

## More on this prediction

- [Ed Yardeni's price predictions](https://predictionverifier.com/people/ed-yardeni/)
- [S&P 500 price predictions](https://predictionverifier.com/assets/sp500/)

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