Evercore ISI Sees S&P 500 at 9,000 as Dalio Warns AI Bubble Echoes 1929

1 articles · Updated · Yahoo Finance · Aug 18

Julian Emanuel said the S&P 500 could reach 9,000 within 12 months, nearly 17% above Monday’s 7,745.06 close, while setting a base case of 7,750.
Evercore’s bullish call rests on stronger earnings expectations and Emanuel’s view that classic bull-market killers—recession, spiking long-end yields and extreme FOMO—are not yet evident.
Ray Dalio has warned of “classic signs” of an AI bubble, comparing today’s AI-driven momentum to conditions before the 1929 crash and the 2000 dot-com bust.
BTIG also flagged August through October as a historically weak stretch for U.S. stocks in midterm election years, even with the S&P 500 already up about 13% this year near record highs.
Wall Street’s broader 2026 targets still skew higher, with Citi at 8,100 and Yardeni Research at 8,400, underscoring a market split between further upside and a volatility risk.