Wells Fargo unveils 2024 target, warns of 'really, really sloppy' first half for stocks
Publishing timestamp: 2023-11-27 19:47:26
Summary
Wells Fargo Securities' head of equity strategy, Chris Harvey, has a year-end target of 4625 for the S&P 500 but sees a potentially volatile path to reaching that target. He believes the first half of the year will be challenging but expects the second half to be better. Harvey advises a risk-averse stance and sees opportunities in oversold areas and Treasurys. His 2023 S&P target is 4420, implying a three percent drop from Monday's close.
Sentiment: MIXED
Tickers: .VIX, XLV, XLU, .SPX,
Keywords: new year's day, markets, earnings, cboe volatility index, recessions and depressions, communication technology, federal reserve bank, health care select sector spdr fund, investment strategy, online retail, economy, business news, consumer credit, breaking news: markets, utilities select sector spdr fund, technology, monetary policy, stock markets, s&p 500 index, interest rates, holiday shopping, wall street, jerome powell, treasury notes, retail sales, breaking news: investing, high-yield bonds, treasury bills, breaking news: economy,