The S&P 500 could see a 20% swing and reach 4,200 this year as the market weathers a mild 'economic malaise,' says Wells Fargo stock strategist
The S&P 500 could see a 20% swing this year as the market navigates a mild economic downturn, according to Wells Fargo's head of equity strategy Chris Harvey. on Tuesday, he said there's downside risk of the S&P 500 falling to 3,400, representing a roughly 15% decline from current levels.
"We think that, again, what you're facing is more of an economic malaise, not a sharp sell-off, not something that's going to be horrific," Harvey said."And as a result, we can muddle through that." The Fed hiked rates by 425 basis points last year and is expected to approve a few more quarter-point increases in 2023, bringing the peak rate to about 5%.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
S&P 500 Index could fall 15-20% if the economy enters a full-blown recession – UBSS&P 500 wrapped up the second week of 2023 with another positive performance. But economists at UBS think that the upcoming 4Q corporate reporting sea
Baca lebih lajut »
Kyle Larson to try Indy 500, Coca-Cola 600 double on the same dayThis gives Larson a path into his dream race and means he will become just the fifth driver to run “The Double” on Memorial Day weekend, driving the Indy 500 and Coca-Cola 600 on the same day.
Baca lebih lajut »
SZA’s ‘SOS’ Spends Fifth Straight Week at No. 1 on Billboard 200Plus: YoungBoy Never Broke Again clocks his 13th top 10-charting album with the debut of ‘I Rest My Case.’
Baca lebih lajut »
EUR/JPY Price Analysis: Downside pressure alleviated above the 200-day SMAEUR/JPY gathers some much needed steam and reclaims the 139.00 hurdle and beyond at the beginning of the week. The recent pronounced correction in the
Baca lebih lajut »
First Mover Americas: Bitcoin Tops $21K, Outshines S&P 500, GoldBitcoin touched the $21,000 mark for the first time since November and Bloomberg reported that Binance will allow institutional investors to keep their collateralized crypto off the exchange. LedesmaLyllah reports.
Baca lebih lajut »
Squid and human brains develop the same way despite diverging 500 million years agoIt seems that the blueprint for complex brain development remains the same, despite 500 million years of divergent evolution.
Baca lebih lajut »