Why Ed Yardeni says the Dow will soon hit 50,000 and 70,000 by decade's end
CNBC••business
Key Points:
- Despite recent market volatility, Ed Yardeni remains bullish on stocks, citing Dow Theory as confirmation that the current bull market has years to go.
- Dow Theory's signal is based on the Industrial average and Transportation benchmark both reaching record highs, which occurred this week, indicating sustained economic growth.
- Yardeni predicts the Dow could hit 50,000 soon and potentially reach 70,000 by the end of the decade, implying a 43% rally from current levels.
- He likens the U.S. economy to the movie "Forrest Gump," highlighting continuous real GDP growth since April 2020 and forecasting no recession through the end of the decade.
- Yardeni's outlook suggests optimism for prolonged economic expansion and
