Yardeni: AI Boom Spreads to Main Street as S&P 500 Eyes IPO Wave

The institutional debate on the AI-driven S&P 500 rally has shifted from near-term caution to signs of broader economic spillovers. After Barclays and Deutsche Bank flagged stretched positioning and rotation out of tech in early June, Goldman’s David Solomon and BlackRock’s Rick Rieder countered with strong earnings growth and “more greed than fear.” Ray Dalio warned of an AI bubble, while TS Lombard highlighted historical IPO-peak risks. On June 6, Yardeni Research noted AI benefits reaching Main Street via rising job openings (7.62m) and manufacturing PMI (54.0), even as trillion-dollar AI IPOs loom.