Yardini raises Wall Street alert
A Wall Street analyst has warned of future risks to stocks despite the S&P 500 rising above 7,600 points, with Yardeni Research adopting a cautious outlook and predicting an end-of-year target of 8,250 points. The report highlighted risks related to the conflict in the Middle East, and anticipated a fall in oil inventories which could drive crude prices to $150 per barrel or higher. There is also the possibility that the Federal Reserve might adopt a tightening policy and increase interest rates in July, along with three initial public offerings that could increase market volatility. At the same time, the recent rally is likely fueled by earnings momentum and the booming influence of artificial intelligence on the economy.
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