The Fed’s consecutive rate hikes over the year are finally showing some results, as inflation came in lower than expected in October. While this has garnered substantial optimism among investors, a slower pace of rate hikes is expected in the coming months.
Veteran investment strategist Ed Yardeni sees the stock market jumping significantly before year-end as the economy proves to be more resilient than most expect. Moreover, Yardeni said in an interview with CNBC last week that the S&P 500 could finish the year at 4,300, which would be a solid turnaround from its mid-October depth of 3,491.
