Wall Street bears are too worried about the earnings slowdown, according to Yardeni Research's Edward Yardeni.
div > div.group > p:first-child"> He went against negative sentiment in December as stocks pulled back.
Citing tough comparisons against last year's blockbuster corporate results, Yardeni sees the weaker trend as a temporary bump. He says there's no earnings or economic recession in sight. "We never really got credit for the fundamentals of last year. Earnings were up almost 25 percent last year, and the market took a dive at the end of last year — taking away about 6 percent from the S&P 500," he said."Some of this is just catching up to the underlying fundamentals which were really extraordinarily good."
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