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Ed Yardeni: S&P 500 at or above 3,800 on Dec 31, 2021

Ed Yardeni's prediction that S&P 500 would be at or above 3,800 on December 31, 2021 came true. The close on the deadline decided this call: S&P 500 closed at 4,766 on December 31, 2021, the deadline. Ed Yardeni made the call on CNBC on August 12, 2020, when S&P 500 was at 3,334. The target needed a 14% rise in one year and five months.

Updated

What was said

Photo of Ed Yardeni
Ed Yardeni

President and Chief Investment Strategist, Yardeni Research

CNBC, Aug 12, 2020SourceArchive

9 predictions · 6 hit · 1 missed · 2 open

Photo: Soar Financially, CC BY 3.0

He also put the 2021 target at 3,800, an implied increase of 8.6% from the designated 2020 number.

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 said the market had already discounted much of the good news expected through the end of next year and warned of the risk of a meltdown.

How we checked this

HitDeadline

Price when said
3,334 closeprice data
Target
3,800+14%
Close on the deadline
4,766price data

The close of the last trading day on or before Dec 31, 2021 decides: the prediction comes true if that close is at or above 3,800. Prices are daily closes, not intraday highs.

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