Any pullback in the S&P 500 is a buying opportunity: Yardeni

Yardeni Research says any near-term pullback in the S&P 500 should be treated as a buying opportunity, maintaining a year-end target of 8,250. The firm highlights a strong, tech-led rally — the S&P has gained 19.1% since March 30, with Information Technology up 44.5% — and forward earnings rising 26.6% year-over-year through May. Yardeni warned of near-term risks that could produce volatility, including an anticipated FOMC shift to a tightening bias with a possible 25bp hike in July, the two-year Treasury yield at ~4.08%, oil-price upside risk (Exxon/Chevron warnings), and potential volatility around the SpaceX IPO. Overall, Yardeni’s outlook is constructive longer term and implies any correction would likely be modest and a buying opportunity.