Yardeni: Stock market faces correction despite strong economy

Stock market could face a 10% correction even as the economy supports a "no landing" scenario, according to market veteran Ed Yardeni

Yardeni said rising bond yields are starting to weigh on stock prices, with percentage of S&P 500 stocks trading above 50-day moving average falling

Yardeni believes S&P 500 made a short-term top on March 29 and is now moving towards being oversold

Despite potential stock market correction, strength of US economy is evident in strong March retail sales and upgraded Q1 GDP growth estimate to 2.8%

Yardeni said consumers are powering economic strength due to rising real disposable income, more retirement, and immigration