March 30th Was the Market Bottom and We Will Not Retest Those Lows, Says Ed Yardeni

Why It Matters

If Yardeni is right, investors should prioritize earnings-driven equities over betting on Fed easing and consider selective energy exposure as a defensive hedge against geopolitical risk, shaping portfolio allocation and risk management strategies.

Summary

Ed Yardeni told viewers that the March 30 pullback marked the market low and that he does not expect equities to retest those levels, citing a surprisingly resilient U.S. economy and a strong corporate earnings backdrop that could drive the S&P toward his 7,700 target. He argued the economy doesn’t need Fed rate cuts—inflation remains above target and lower rates would likely fuel speculative excesses rather than help employment. Yardeni said he is overweight energy as a modest, dividend-paying hedge amid Middle East uncertainty and sees global oil flows and increased production limiting a sustained supply shock. He characterized the regional conflict as a likely stalemate that shouldn’t derail the broader earnings-led rally.

Original Description

Ed Yardeni, Yardeni Research founder, joins 'Closing Bell' to discuss Yardeni's S&P target, what the Iran war's impact on the Federal Reserve and much more.