Yardeni: the low is in, sees 8% rally by year end

Ed Yardeni of Yardeni Research said that in his view, the Oct. 12 low was the bottom and the S&P 500 could rise to near 4,300 by the end of the year, he told CNBC on “Closing Bell: Overtime” Friday night. The benchmark index currently sits at 3,965.34.

“What’s making the big difference in the market is the resilience of the economy, it’s been spectacular,” he said. “Everyone’s been debating whether we’re going to have a soft landing or a hard landing – meanwhile, there’s no landing whatsoever. The consumer didn’t get the recession memo and they keep spending.”