homemarket NewsInvestors favour India over other EMs, expect 11% rise in S&P 500 in 2024: Ed Yardeni
Investors favour India over other EMs, expect 11% rise in S&P 500 in 2024: Ed Yardeni
Ed Yardeni, President of Yardeni Research, noted that India's positive trajectory is drawing investors' attention away from China, where concerns over a property bubble burst and an aging population have dampened economic prospects.
Ed Yardeni, President at Yardeni Research, highlighted India's robust economy, youthful workforce, and substantial growth potential, especially in infrastructure development, in a conversation with CNBC-TV18.
He noted that India's positive trajectory is drawing investors' attention away from China, where concerns over a property bubble burst and an aging population have dampened economic prospects. This shift has led to a comparative rise in India's markets and a decline in China's, underscoring India's emerging prominence in global portfolios.
Yardeni also shared his bullish outlook for the S&P 500, predicting it to reach 5400 by the end of the year and 6000 in the following year. His confidence in a sustained bull market since October 2022 reflects a strong belief in the resilience and growth potential of the US stock market.
Despite the uncertainty surrounding the upcoming US presidential elections, which involves the 'same old horses in the same old race', and their potential impact on the market, Yardeni believes that fundamental economic factors are more crucial than political ones.
He noted that the US economy and stock market have been performing well, driven mainly by the corporate and business sectors, despite the political environment.
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Yardeni does not foresee a significant drop in the US interest rates given the robustness of the economy. He doesn't anticipate a recession.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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