Veteran Wall Street investor Ed Yardeni has adjusted his outlook for the S&P 500, raising the year-end target to 5,800 from 5,400, and maintaining a target of 8,000 by the end of the decade. “The stock market seems to be discounting our Roaring 2020s scenario faster than we expected,” Yardeni stated in his latest Quicknote. Yardeni’s bullish stance, held since November 2022, has proven to be somewhat conservative as the bull market continues to surpass expectations. Yardeni Cites European Economic Troubles, Reinforces ‘Stay Home’ Bias Yardeni expressed concerns about European economies, noting that they are losing post-pandemic momentum. “Growth is sagging in core countries like Germany, while periphery nations are relying on tourism, which fuels inflation and social strife,” he said. Political headwinds are exacerbating the situation. The European Commission is preparing to penalize countries with unsustainable fiscal policies, such as France, which also grapples with far right- and left-wing parties now dominating the ...