International Business Editor
Market bull and CEO of company Yardeni Research, which provides investment strategies, Ed Yardeni predicts that this coming Christmas season will be one of the best. His prediction rests on the fact that consumers are emerging from the pandemic after nearly a year and a half and thus, feel like spending. These same consumers likely spent much less or were not able to spend at all on gifts for their friends and family last winter. But that may all change. As with all holiday shopping, there is a time crunch to buy as much merchandise as possible before everything is gone out of stock. There is, of course, inflation of the economy, but Yardeni does not believe that this will alter consumers’ propensity to shop this holiday season. In conjunction with the inflation spike, workers have seen an increase in wages which may help offset the rising prices and thus, fuel spending.
Stocks appear to be high recently as well, with companies like the DOW, Nasdaq, and S&P 500. Yardeni predicted his “ray of sunshine” market call 17 months ago on “Trading Nation,” a show on CNBC in which traders debate current topics in financial news. He anticipated a bull market, especially after the COVID-19 global lockdowns in the spring of 2020. In addition, he claims that the hardships associated with the pandemic are now behind the US and that the number of people receiving their vaccinations against the coronavirus allows the economy to perform well. Therefore, the pandemic is not interfering with the welfare of the economy.
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