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Ed Yardeni: S&P 500 at or above 4,600 on Dec 31, 2023

Ed Yardeni's prediction that S&P 500 would be at or above 4,600 on December 31, 2023 came true. The close on the deadline decided this call: S&P 500 closed at 4,770 on December 29, 2023, the last trading day before the deadline. Ed Yardeni made the call on CNBC on March 29, 2023, when S&P 500 was at 3,971. The target needed a 16% rise in nine months.

Updated

What was said

Photo of Ed Yardeni
Ed Yardeni

President and Chief Investment Strategist, Yardeni Research

CNBC, Mar 29, 2023SourceArchive

9 predictions · 6 hit · 1 missed · 2 open

Photo: Soar Financially, CC BY 3.0

The president of Yardeni Research set his S & P 500 year-end target at 4,600, which would translate into a roughly 20% gain for the year and a 14% rally from Wednesday's close of 4,027.81.

Yardeni said the banking crisis would be well contained by the Fed and the FDIC and would keep the Fed from raising rates further, since policy was already restrictive enough. He described the economy as having been in a 'rolling recession' since the start of 2022, with downturns hitting different sectors at different times and bubbles bursting without taking the broader economy down.

How we checked this

HitDeadline

Price when said
3,971 closeprice data
Target
4,600+16%
Close on the deadline
4,770price data

The close of the last trading day on or before Dec 31, 2023 decides: the prediction comes true if that close is at or above 4,600. Prices are daily closes, not intraday highs.

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