This is when Wells Fargo expects the S&P 500 to hit its 5535 target
The investment bank thinks that an uptrend toward this target will be helped by a late-year rally, catalyzed by Election Day and the start of a long-term easing cycle.
Currently, the S&P 500 has shown resilience despite some choppiness, down 0.7% week-to-date but up 10.4% year-to-date.), have further bolstered performance, other sectors have lagged, Wells Fargo notes. Without Nvidia’s 12% weekly rally, the S&P 500 would have seen larger declines, especially in midcap and small-cap indices.
The rate of earnings per share beats was typical, though sales beats were less frequent. Most notably, the S&P 500's aggregate 5.7% year-over-year EPS growth outpaced pre-season expectations of 3.4%.Scan QR code to install app
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