One of Wall Street's Most Bullish Strategists Is Growing Cautious About the Stock Market

Over the past three years, the bulls have won the day on Wall Street. The S&P 500 index still has a chance to register three consecutive years of at least 20% gains, something that has rarely occurred before. Some strategists and pundits think the party can continue, as the Federal Reserve has cut its benchmark interest rate at each of its last two meetings, and the labor market, though it may be slowing, is seemingly still on solid footing.But there is another camp of strategists who believe a bubble has formed that could pop with ugly consequences. In the latest indication that conditions have perhaps gotten too frothy, one of Wall Street's most fervent bulls has started to grow cautious about the state of the stock market.Many market watchers may have heard of Ed Yardeni of Yardeni Research because he has been one of the most bullish strategists in recent years. In fact, early this year, he said the S&P 500 index could hit 10,000 by 2029, which implies close to another 50% upside over the next four years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool