There’s a ‘buy’ signal flashing for investors in the stock market right now as the long-term bull market pushes on, market vet says

The stock market is in a great spot for investors to jump in, Ed Yardeni says.

The market vet still thinks stocks are in the midst of a long-term bull market that could last through 2030.

Stocks could rally 50% higher by the end of the decade, Yardeni has predicted.

The latest pullback in stocks could represent a big \”buy\” signal for investors, according to market veteran Ed Yardeni.

The Yardeni Research president pointed to the latest pullback in stocks, with the Dow plunging over 600 points on Thursday after services and manufacturing data pointed to more inflation pressures. That\’s fueled fresh fears of interest rates remaining high.

But stocks are still in a longer-term uptrend, meaning the pullback could be a fresh opportunity for investors who have been waiting on the sidelines, Yardeni said.

\”My advice to people who have been investing in the market is to stay with it,\” he told Bloomberg on Thursday. \”All in all, I\’m kind of anticipating the US economy is going to continue to do well …. I think all the stocks that are being sold today are probably the ones that are going to make a comeback, and maybe this is a short-term opportunity to hop aboard what I think is a long-term bull market.\”

While inflation remains above the Fed\’s 2% target, the economy overall is strong, with GDP continuing to grow and unemployment at historic lows. Consumers have pulled back on goods spending, but they\’re spending more money on services, which is propping up the economy, Yardeni noted.

\”All in all, I think we\’re looking at an economy that remains remarkably resilient. And while everybody\’s coming to the conclusion that we\’re going to have higher-for-longer interest because that\’s what Fed officials are signaling, I view it as \’normal for longer\’ … We\’ve done fine at these levels of interest rates, as has the stock market,\” Yardeni said.

Yardeni has been making the case for months that stocks are still in a long-term bull market and could soar through the rest of the decade. Recently, he\’s predicted that the S&P 500 will climb as much as 50% and the Dow Jones Industrial Average could hit 60,000 by 2030.

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