{"id":171147,"date":"2023-11-28T09:50:25","date_gmt":"2023-11-28T06:50:25","guid":{"rendered":"https:\/\/kupitiblog.store\/576r\/wells-fargo-sees-economic-soft-patch-capping-further-sp-500-gains\/"},"modified":"2023-11-28T09:50:25","modified_gmt":"2023-11-28T06:50:25","slug":"wells-fargo-sees-economic-soft-patch-capping-further-sp-500-gains","status":"publish","type":"post","link":"https:\/\/kupitiblog.store\/576r\/wells-fargo-sees-economic-soft-patch-capping-further-sp-500-gains\/","title":{"rendered":"Wells Fargo sees economic &#171;soft patch&#187; capping further S&#038;P 500 gains"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/kupitiblog.store\/576r\/wp-content\/uploads\/d596842f34bd973a1dbf98683f406ed5.jpg\"  \/> <span class=\"text\"> A Wall Street sign is seen in Lower Manhattan in New York, January 20, 2016. REUTERS\/Mike Segar\/File Photo<\/span> <i class=\"imgGrad\"><\/i>    &nbsp;                       <\/p>\n<p>By David Randall<\/p>\n<p>NEW YORK (Reuters) &#8212; An upcoming &#171;economic soft patch&#187; will likely weigh on the recent U.S. equity rally and stall sectors such as consumer discretionary and small-cap stocks, strategists at the Wells Fargo Investment Institute warned in a note on Monday. <\/p>\n<p>The firm cut its 2024 earnings estimate for the <span class=\"aqPopupWrapper js-hover-me-wrapper\">Russell 2000<\/span> index of small cap stocks while maintaining its 2024 year-end <span class=\"aqPopupWrapper js-hover-me-wrapper\">S&#038;P 500<\/span> target price range between 4,600 and 4,800. The index traded near 4,550 on Monday. <\/p>\n<p>While the U.S. economy is slowing, it has not deteriorated enough to justify the Federal Reserve beginning to cut interest rates, the firm noted. As a result, the economy will likely suffer from the squeeze of tighter credit longer than markets appear to anticipate, it said. <\/p>\n<p>&#171;It is our belief that equity rallies will be capped until a path to an economic and earnings recovery becomes clear,&#187; the firm noted, adding that it suggests investors add to large-cap technology stocks if the S&#038;P 500 falls near the bottom of its range for the year. <\/p>\n<p>The benchmark S&#038;P 500 is up more than 10% over the last three weeks as Treasury yields have fallen from 16-year highs following signs of cooling inflation and a weakening labor market, helping boost valuations in technology and other growth sectors. It hit a high for the year in late July as predictions of an imminent recession sank Treasury yields. <\/p>\n<p>The Atlanta Fed&#8217;s GDPNow estimates show US gross domestic product growing at a 2.1% annualized rate in the fourth quarter, down from a third-quarter reading of 5.1% in early October. <\/p>\n<\/p>\n<p>Overall, futures markets anticipate a 22% chance that the Fed begins cutting rates in March, up from a 13.7% chance seen a month ago, according to CME&#8217;s FedWatch Tool. <\/p>\n<p>A re-acceleration of the global economy in the second half of 2024 will likely push stocks higher as a weakening dollar and falling interest rates spark a global risk rally, Wells Fargo said. <\/p>\n<p\/>\n<p><p><a target=\"_blank\" rel=\"nofollow noopener\" href=\"http:\/\/www.investing.com\/news\/economy\/wells-fargo-sees-economic-soft-patch-capping-further-sp-500-gains-3244160\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Wall Street sign is seen in Lower Manhattan in New York, January 20, 2016. REUTERS\/Mike Segar\/File Photo &nbsp; By David Randall NEW YORK (Reuters) &#8212; An upcoming &#171;economic soft patch&#187; will likely weigh on the recent U.S. equity rally and stall sectors such as consumer discretionary and small-cap stocks, strategists at the Wells Fargo &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3347],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wells Fargo sees economic &quot;soft patch&quot; capping further S&amp;P 500 gains - BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wells Fargo sees economic &quot;soft patch&quot; capping further S&amp;P 500 gains - BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.\" \/>\n<meta property=\"og:description\" content=\"A Wall Street sign is seen in Lower Manhattan in New York, January 20, 2016. REUTERS\/Mike Segar\/File Photo &nbsp; By David Randall NEW YORK (Reuters) &#8212; An upcoming &#171;economic soft patch&#187; will likely weigh on the recent U.S. equity rally and stall sectors such as consumer discretionary and small-cap stocks, strategists at the Wells Fargo &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kupitiblog.store\/576r\/wells-fargo-sees-economic-soft-patch-capping-further-sp-500-gains\/\" \/>\n<meta property=\"og:site_name\" content=\"BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-28T06:50:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kupitiblog.store\/576r\/wp-content\/uploads\/d596842f34bd973a1dbf98683f406ed5.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u041f\u0440\u0438\u043c\u0435\u0440\u043d\u043e\u0435 \u0432\u0440\u0435\u043c\u044f \u0434\u043b\u044f \u0447\u0442\u0435\u043d\u0438\u044f\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 \u043c\u0438\u043d\u0443\u0442\u044b\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/kupitiblog.store\/576r\/#website\",\"url\":\"https:\/\/kupitiblog.store\/576r\/\",\"name\":\"BiznesSMI - 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