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☆ Stocks could see a sharp sell-off as the possibility of resurgent inflation threatens the FOMO-fueled rally, Wells Fargo says
▼ + stars: | 2023-08-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Investors shouldn't chase the current FOMO-fueled rally in stocks, Wells Fargo warned. Core inflation accelerated 0.2% in June, and though payrolls rose by a less-than-expected 209,000 jobs last month, the labor market remains resilient, a factor that could potentially drive inflation higher. "If inflation's descent flattens out and reverses as interest rates rise higher, we believe the sectors that have driven this rally should be vulnerable to sharp pullbacks," Wren warned. Wells Fargo predicted the S&P 500 would end the year between 4,600-4,800. In addition to stubborn inflation, investors could also be slammed with a corporate earnings recession, Morgan Stanley has warned.

Persons: Wells, Wells Fargo, Scott Wren, Wren, Morgan Stanley Organizations: Service Locations: Wall, Silicon

☆ There's more pain coming for residential and commercial real estate as tight credit and job worries threaten property markets
▼ + stars: | 2023-07-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Residential and commercial real estate have more pain coming as financial conditions tighten, Wells Fargo said. Commercial real estate is struggling as work-from-home trends remain popular, the bank said. Meanwhile, in commercial real estate, office demand is still way down as work-from-home trends remain popular. "We expect commercial real estate to underperform on a relative basis in the near-to-intermediate term," Wren said of the sector. Meanwhile, commercial real estate prices are in danger of falling dramatically, with Morgan Stanley strategists predicting a 40% peak-to-trough decline.

Persons: Wells Fargo, Scott Wren, that's, Wren, Banks, Morgan Stanley Organizations: Housing, Service, Silicon Valley Bank, National Association of Realtors, Real Estate Investment Locations: Wall, Silicon, Wells Fargo, underperform

☆ Watch CNBC's full interview with Victoria Greene and Scott Wren
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Victoria Greene and Scott WrenVictoria Greene, G Squared Private Wealth and Scott Wren, Wells Fargo Investment Institute Senior Global Market Strategist, join CNBC's Leslie Picker and 'Closing Bell Overtime' to talk the day's market action.

Persons: Victoria Greene, Scott Wren Victoria Greene, Scott Wren, CNBC's Leslie Picker Organizations: Wealth, Fargo Investment Institute Senior Global Market Locations: Fargo

☆ Factbox: Analysts guarded as AI-driven US stock rally faces earnings test
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +4 min

Strategists expect profit at S&P 500 (.SPX) companies to have dropped 6.4% in the second quarter from a year earlier, according to Refinitiv data. Morgan Stanley:Much of the stock market rally this year has been driven by a price-to-earnings expansion, signaling investors likely remain unconcerned about near-term earnings pressure. Still, "better-than-feared" earnings are not going to be good enough in Q2 considering stocks have become more expensive, the strategists say. Goldman Sachs:Companies will likely be able to beat or surpass "the low bar" set for the second quarter. This suggests a "muted market reaction" to Q2 earnings is likely, given robust gains in stocks since the first quarter and an "overweight" equity positioning, the bank says.

Persons: Mike Segar, Morgan Stanley, Goldman Sachs, Laura Cooper, Cooper, Scott Wren, Amruta Khandekar, Shreyashi Sanyal, Sriraj Organizations: Citibank, REUTERS, Nasdaq, Companies, GS, Nvidia, iShares EMEA, BlackRock, Deutsche Bank, Investors, Wells, Wells Fargo Investment Institute, Citigroup, Thomson Locations: New York , New York, U.S, BlackRock, Wells Fargo, Bengaluru

☆ Wall Street cheers cool CPI with stock rally; dollar, yields decline
▼ + stars: | 2023-07-12 | by ( Lawrence Delevingne | Thomson Reuters | Delevingne Works Primarily On Enterprise Stories Related To Finance. He Joined Reuters In | ) www.reuters.com time to read: +4 min

REUTERS/Ralph OrlowskiSummaryCompanies U.S. CPI data for June shows inflation slowdownWall Street stocks gainDollar, Treasury yields dropOil and gold gainJuly 12 (Reuters) - Wall Street stocks advanced on Wednesday and the dollar and Treasury yields fell after new U.S. inflation data showed a slowdown in the seemingly relentless rise of consumer prices. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in prices of used motor vehicles. Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.865%, down 11.9 basis points . Wall Street banks overall are expected to report higher profits as rising interest payments offset a downturn in deal making.

Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Scott Wren, Wren, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Jan Harvey, Chizu Nomiyama, Will Dunham, Mark Heinrich Our Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, CPI, Bank of England, U.S, Sit Investment, Fed, Japan's Nikkei, JPMorgan, Citigroup, Wells, Investment Institute, Brent, Wednesday, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, Wednesday ., Boston, London, Singapore, Carolina, New York

[1/2] A trader works at the Frankfurt stock exchange, amid the coronavirus disease (COVID-19) outbreak, in Frankfurt, Germany, December 30, 2020. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in prices of used motor vehicles. CPI advanced 3.0% in the 12 months through June, down from 4.0% in May and the smallest year-on-year increase since March 2021. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.853%, down 12.9 basis points . EARNINGS AHEADOvernight in Asia, Australia's S&P/ASX 200 index (.AXJO) rose 0.4%, while the bouncing yen knocked Japan's Nikkei (.N225) down 0.8%.

Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Scott Wren, Wren, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Jan Harvey, Chizu Nomiyama, Mark Heinrich Our Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, Bank of England, U.S, Sit Investment, Fed, Bank of Canada, Japan's Nikkei, JPMorgan, Citigroup, Wells, Investment Institute, Brent, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, dealmaking, Boston, London, Singapore, Carolina, New York

☆ Central banks to Wall Street: More pain is coming
▼ + stars: | 2023-06-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Market euphoria in early June, spurred on by a pause in interest rate hikes by the Federal Reserve, is well behind us now. What’s happening: It’s been just over a week since the Federal Reserve paused its 14-month regimen of interest rate hikes to fight inflation. The Bank of England, meanwhile, surprised investors by raising interest rates in the UK by an outsized half of a percentage point. Central banks had been making smaller interest rate moves as inflation began to ease off of recent highs. Elsewhere in Europe, central banks in Norway and Switzerland also hiked rates to decade-high levels on Thursday.

Persons: We’re, It’s, Jerome Powell, ” Powell, Stocks, Scott Wren, Wells, ”, Samantha Delouya, Elon Musk, Mark Zuckerberg, Musk, Zuckerberg, Hanna Ziady, Alex Heath, “, Paddy Power Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Central Bank, Nasdaq, Senate, Financial Services, The Bank of England, Bank of England, Fed, Commonwealth, 3M, WWE, Tech, Twitter, Meta, “ Locations: New York, Europe, Norway, Switzerland, ” Switzerland, United States, Wells Fargo, Las Vegas

☆ Don't chase the rally in stocks because a recession is coming and current earnings estimates are too high, a Wells Fargo strategist says
▼ + stars: | 2023-06-14 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Wells Fargo isn't in favor of chasing the rally in US stocks, and is looking to fade the year-to-date gains, the bank's senior global market strategist said. We're not expecting the Fed to cut rates, we think earnings estimates are too high," he told CNBC. We're not expecting the Fed to cut rates, we think earnings estimates are too high. So for us, we want to fade this rally and look to pick up some stocks at lower levels," Wren told the outlet. We think inflation will be below 3% by the end of the year."

Persons: Wells, Scott Wren, We're, —, Wren, We've, it's Organizations: CNBC, Service, Wells Fargo's, Federal Reserve

☆ Wells Fargo's Scott Wren says he is fading the stock market rally
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo's Scott Wren says he is fading the stock market rallyScott Wren, Wells Fargo, joins 'Closing Bell' to discuss the market rally, Fed decision and market outlook.

Persons: Wells, Scott Wren Locations: Wells Fargo

☆ Watch CNBC's full interview with Wells Fargo's Scott Wren
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wells Fargo's Scott WrenScott Wren, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to discuss the state of the stock market, where investors should be putting their money, and the Federal Reserve's next moves.

Persons: Wells Fargo's Scott Wren Scott Wren Organizations: Fargo Investment Institute, Federal Locations: Fargo

☆ Economy faces headwinds leading into possible recession, says Wells Fargo's Scott Wren
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy faces headwinds leading into possible recession, says Wells Fargo's Scott WrenScott Wren, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to discuss the state of the stock market, where investors should be putting their money, and the Federal Reserve's next moves.

Persons: Wells Fargo's Scott Wren Scott Wren Organizations: Fargo Investment Institute, Federal Locations: Fargo

☆ Premarket stocks: Wall Street's dirty secret: It's terrible at forecasting stocks
▼ + stars: | 2022-12-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

What’s happening: Last year, Goldman Sachs analysts predicted that the S&P 500 would close out 2022 at 5,100 points. With those caveats, let’s get to Wall Street’s predictionsThe numbers: Forecasts for where the S&P 500 will finish 2023 vary greatly. Analysts overestimated the final value (that is, the final value finished below the estimate) in 13 of the 20 years and underestimated the final value (the final value finished above the estimate) in the other 7 years. They’re on track to have overestimated the performance of the S&P 500 in 2022 by nearly 40%. During this period, the S&P 500 has historically gained 1.3% on average, according to data from LPL Financial going back to 1950.

☆ Expect inflation to come down quickly next year, says Wells Fargo's Scott Wren
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect inflation to come down quickly next year, says Wells Fargo's Scott WrenScott Wren, Wells Fargo Investment Institute, joins 'Closing Bell' to discuss his market and economic outlook.

☆ Markets right now 'lack any sense at all', and nothing will change until the inflation picture becomes clearer, Wells Fargo says
▼ + stars: | 2022-10-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Markets "lack any sense at all," and that won't change until the inflation situation changes, according to Wells Fargo. The bank pointed to the recent volatility in the stock market, which has rebounded on positive earnings reports after plunging earlier this month when inflation clocked in above expectations. "Investors are trying to make sense of the financial markets, which at times, seem to lack any sense at all," global market strategist Scott Wren said in a note on Wednesday. That's a sign rates will likely stay higher for longer – promising more choppiness to the market until inflation shows clear signs of slowing. October inflation data will be released the following week on November 10, making another bout of volatility likely.

The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in 30-year UK bond yields above 5%, their highest since 2002. Register now for FREE unlimited access to Reuters.com RegisterEuropean government bonds got a lift from the surge in gilts. "The surge in bond yields threatens the housing market and broader economy. Wall Street opened higher, with the S&P 500 Index (.SPX) up about 1% after it fell to a two year low on Tuesday. Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, said markets may already be pricing in future pain.

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