March 30th was the market bottom and we will not retest those lows, says Ed Yardeni

• S&P 500 low was on March 30th and will not be retested, with a target of 7700.
• The market recovery is due to good earnings and an amazingly resilient economy.
• The Fed should not cut interest rates as the economy doesn't need it and inflation is still above target.
• Overweight energy stocks as a hedge against geopolitical crises, noting their dividend potential and the sector's small market capitalization.

Ed Yardeni believes the S&P 500 hit its low on March 30th and will not retest those levels, driven by resilient earnings and a strong economy. He disagrees with the idea of the Fed cutting rates, citing inflation and a healthy economy. Yardeni is overweight energy as a hedge against geopolitical risks and for its dividend potential.