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‘The Nasdaq from late 1998 to early 2000 rose more than 200%. Now, we have increased almost 100% and we may be on the same track. Everything I’m looking at points to a fusion. ”
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This is Edward Yardeni, president of Yardeni Research, who has a cautious view in a recent CNBC interview about where the stock market is going from here. He explained that the relentless census of the cryptocurrency is just one of the signs pointing to potential weakness.
“It’s just a part of the bullish market in everything,” Yardeni explained. “It is very important whether or not you are in Bitcoin BTCUSD,
looking at the graph and realizing when it goes up directly is certainly a sign of exuberance, of speculative excess ”.
As for the timeline of when a turn for the worse can be made, Yardeni, a longtime Wall Street strategist, said the broader market rally should have a few legs for a while.
“In the first half of this year, the blue wave will likely continue to be bullish,” he said. “We will get more government spending. We will have at the head of the Federal Reserve a large part of government spending through quantitative achievement. I think interest rates will stay pretty low. ”
But that could change in a hurry as the U.S. economy begins to recover from the pandemic. “In the second half of the year,” Yardeni said, “maybe we’ll be looking at some consumer price inflation that wouldn’t be good for overvalued assets.”
Watch the interview:
There are no signs of merging on Sunday night, with futures on the Dow Jones YM00 industrial average,
S&P 500 ES00,
and the Nasdaq Composite NQ00, very technological,
pointing to a slow start to the week.