Yardeni Raises S&P 500 Target To 8,400 - State Street SPDR S&P 500 ETF Trust (ARCA:SPY)

Ed Yardeni raised his year-end 2026 target for the S&P 500 to 8,400 from 8,250, putting the benchmark back at the top of Wall Street’s forecasting table. The upgrade is driven by a sharp acceleration in earnings expectations, with the firm betting stronger corporate profits can sustain the rally. Yardeni also increased to 80% the probability that the “Roaring 2020s” continue, up from 60%. Around 90% of S&P 500 companies had reported second-quarter results by Aug. 11, and Yardeni lifted its 2026 EPS forecast to $375 from $330. The firm expects profit margins of 16.7% this year and 16.9% next year, with AI-linked semiconductor and hardware prices contributing. SPY was up 12.6% year-to-date near record highs.