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☆ The Trump trade that could have more to run as overall market loses steam
▼ + stars: | 2024-11-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Bank stocks have popped since President-elect Donald Trump's win, but their move eight years ago suggests this rally still has more upside. Drilling down to bank stocks, specifically, within financials still shows that the group could have room to run. In 2016, bank stocks outperformed by 11.5 percentage points, compared to 6.9 points this year, according to the note. Bank stocks have seen big moves since Trump's win, as investors react to the expectation of a lighter regulatory touch from his administration. And while postelection rally for the broader market has cooled this week , bank stocks still look like one of the bests going forward, Harvey said.

Persons: Donald Trump's, Wells, Christopher Harvey, Harvey Organizations: Trump's, Bank, Bank of America, UST, Trump Locations: financials

☆ Utilities are the hottest part of the stock market right now, on track for their best year since 2000
▼ + stars: | 2024-09-28 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Utility stocks this year have mounted a rally unseen in more than two decades. In the third quarter, utilities are the best out of 11 sectors that comprise the S & P 500, climbing 18%. As a group, utilities are poised to score their largest quarterly gain since George W. Bush was president in 2003. If that holds through yearend, utilities will see their biggest annual advance since 2000, when they surged more than 50%. "Utilities are the hottest sector in the market currently," Wolfe Research Rob Ginsberg said in a note to clients in August.

Persons: George W, Bush, Wolfe, Rob Ginsberg, hasn't, It's, buildout, Ginsberg, Subramanian, Wells Fargo, Christopher Harvey, Harvey, LSEG Organizations: Utilities, Federal Reserve, Bank of, Nasdaq, Bank of America, Constellation Energy, CenterPoint Energy Locations: yearend, The Texas, Houston

☆ Be cautious, but not too fearful in buying stocks in the market, says Wells Fargo's Chris Harvey
▼ + stars: | 2024-08-09 | 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 EmailBe cautious, but not too fearful in buying stocks in the market, says Wells Fargo's Chris HarveyChristopher Harvey, Wells Fargo Securities Head of Equity Strategy, joins 'Closing Bell' to discuss his playbook and why investors should be buying stocks.

Persons: Wells, Chris Harvey Christopher Harvey Organizations: Wells, Wells Fargo Securities Head, Equity Locations: Wells Fargo

☆ Wells Fargo says buy stocks, not the stock market now. Here's its bargain list
▼ + stars: | 2024-08-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Recent market turbulence has unearthed some bargain prices for momentum stocks, according to Wells Fargo. He suggests that investors "buy stocks, not the stock market." Here's a closer look at stocks Wells Fargo is eyeing in light of the recent market volatility. Shares of the Facebook parent have gained roughly 45% in 2024, but have slumped 3% over the past month. Eli Lilly has climbed 53% in 2024, but is down roughly 8% over the past month.

Persons: Wells, Christopher Harvey, Harvey, Harvey isn't, Blayne Curtis, Eli Lilly, Lilly, Zepbound Organizations: Services, Nvidia, Jefferies, Facebook, Meta, LSEG, Netflix Locations: Wells Fargo, U.S, Wells

☆ Wells Fargo says it's time to buy banks as a Trump trade
▼ + stars: | 2024-07-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Banks are headed for a significant period of outperformance in the near term as the "Trump Trade" heats up, according to Wells Fargo. The analyst replaced health care with banks in the firm's recommended sector barbell under the belief the group will outperform under an improved regulatory environment. Harvey added that banks' macroeconomic backdrop is already improving with the Treasury curve beginning to steepen, the pace of mergers and acquisitions accelerating, and consumer credit in line with expectations. Bank stocks are trading at a "significant discount," Harvey noted. That kind of move implies roughly 15% of outperformance over the next one to three months.

Persons: Banks, Saturday's, Donald Trump, Morgan Stanley, Wells, Christopher Harvey, Harvey Organizations: Trump, Republican, Fund, Traders, Bank of America, Citigroup Locations: Wells Fargo

☆ Wells Fargo's Chris Harvey hikes S&P target by 20% - but still doesn't feel bullish, here's why
▼ + stars: | 2024-04-09 | 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 EmailWells Fargo's Chris Harvey hikes S&P target by 20% - but still doesn't feel bullish, here's whyChristopher Harvey, Wells Fargo Securities Head of Equity Strategy, joins 'Fast Money' to explain why he is hiking his S&P 500 price target despite not feeling bullish on the market.

Persons: Wells, Chris Harvey, Christopher Harvey Organizations: Wells, Wells Fargo Securities Head, Equity Locations: Wells Fargo

☆ Wells Fargo hikes S&P 500 year-end target to 5,535, says 'melt-up' in second half likely
▼ + stars: | 2024-04-08 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Expect the stock market's run to record highs to continue as the year goes on, according to Wells Fargo. Christopher Harvey, the bank's head of equity strategy, raised his 2024 S & P 500 target to 5,535 from 4,625, implying a 6.4% upside from here. Wells Fargo' new forecast is one of the highest on the Street, surpassing the 5,500 target from John Stoltzfus at Oppenheimer. .SPX 1Y mountain S & P 500 The market's 2024 took a breather as of late as investors reassessed the Federal Reserve's path to cut interest rates. The S & P 500 declined nearly 1% during the period, its biggest weekly loss since early January.

Persons: Christopher Harvey, Harvey, Wells Fargo, John Stoltzfus Organizations: CNBC Pro Market, Survey, Dow Jones Locations: Wells Fargo, Oppenheimer

☆ Wells Fargo blames retail slump for Thursday's sell-off, sees more volatility ahead
▼ + stars: | 2023-08-25 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

There's one main culprit for Thursday's sell-off, according to Wells Fargo: Retail. The S & P 500 and Nasdaq Composite had their worst performances since Aug. 2, and the Dow Jones Industrial Average had its biggest one-day decline since March. Nvidia finished modestly higher after initially surging on the back of its expectation-shattering earnings report earlier in the session. Harvey noted a "sell the news" mentality. The Nasdaq Composite and S & P 500 have added 1.3% and 0.2%, respectively, while the Dow has slid 1.2%.

Persons: Christopher Harvey, Locker, Harvey, Jerome Powell, — CNBC's Michael Bloom Organizations: Retail, Nasdaq, Dow Jones, Services, Nike, Nvidia, Dow, Federal Locations: Wells Fargo, Macy's, Burlington, Jackson Hole , Wyoming

☆ Watch CNBC's full interview with Wells Fargo's Christopher Harvey and UBS' Jonathan Pingle
▼ + stars: | 2023-08-07 | 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 Christopher Harvey and UBS' Jonathan PingleChris Harvey, Wells Fargo Securities head of equity strategy, and Jonathan Pingle, chief U.S. economist at UBS Investment Bank, join 'Squawk on the Street' to discuss what the latest Federal Reserve headlines mean for markets and the economy, when equity volatility will wane, and much more.

Persons: Wells Fargo's Christopher Harvey, Jonathan Pingle Chris Harvey, Jonathan Pingle Organizations: UBS, Wells, Wells Fargo Securities, UBS Investment Bank, Federal Locations: Wells Fargo

☆ 'A short-term glitch:' Wall Street pros shrug off the effect of Fitch's downgrade on markets
▼ + stars: | 2023-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The Dow Jones Industrial Average fell more than 200 points Wednesday after the downgrade as traders weighed the move. US10Y 1Y mountain 10-year yield 1-year However, Wall Street strategists mostly took the downgrade in stride. The S & P 500's 17% rally this year and the Nasdaq Composite's 33% advance had some traders worrying that equities have surged "too far, too fast." Stovall's S & P 500 year-end target is at 4,575 . Goldman Sachs' Jan Hatzius said Tuesday the downgrade will have "little direct impact" on financial markets.

Persons: Fitch, Janet Yellen, Sam Stovall, Stovall's, Wells Fargo's Christopher Harvey, Goldman Sachs, Jan Hatzius, Steven Zeng, Management's Yung, Yu Ma, Ma, CFRA's Stovall, Deutsche Bank's Zeng, Michael Bloom Organizations: U.S ., Fitch, AAA, Dow Jones, Treasury, Street, Nasdaq, Deutsche, BMO Locations: Washington, U.S, Tuesday's

☆ Wells Fargo says the S&P 500 is topping out and a correction is ahead
▼ + stars: | 2023-05-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The S & P 500 may take a leg down as shorting becomes more attractive and investors move attention beyond earnings season. Equity analyst Christopher Harvey said the index is "topping out" after nearing a 4,200-point target in what he called a pattern of "fits-and-starts." .SPX YTD mountain The S & P 500 A move to 3,700 would mark a low not seen since last fall for the S & P 500, though he still believes the bear market ended in February. Artificial intelligence could also help the S & P 500 avoid a downturn if it prompts a productivity spike that can help cool inflation and send technology stocks in the S & P 500 up, he said. For those interested in shorting, Harvey recommended using income to fund a risk-mitigated call option as a way to reduce tail risk.

Persons: Christopher Harvey, Harvey, — CNBC's Michael Bloom Organizations: Federal Reserve, Fed Locations: shorting

☆ Watch CNBC's full interview with Wells Fargo's Christopher Harvey on market outlook
▼ + stars: | 2023-04-13 | 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 Christopher Harvey on market outlookChristopher Harvey, Wells Fargo Securities, joins 'Closing Bell' to discuss the revenue outcomes of business right-sizing, whether investors should sell before May, and the stimulus implications of a ruling on student loan forgiveness.

☆ Expect pullback to hit markets over next three to six months, says Wells Fargo's Christopher Harvey
▼ + stars: | 2023-04-13 | 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 pullback to hit markets over next three to six months, says Wells Fargo's Christopher HarveyChristopher Harvey, Wells Fargo Securities, joins 'Closing Bell' to discuss the revenue outcomes of business right-sizing, whether investors should sell before May, and the stimulus implications of a ruling on student loan forgiveness.

☆ Wells Fargo says investors should expect a 10% stock market correction soon
▼ + stars: | 2023-04-11 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

A swift sell-off is ahead once investors realize the banking crisis will tip the economy into a recession, according to Wells Fargo. .SPX YTD mountain The S & P 500 Index is up about 7% year to date. The strategist sees a typical 10% pullback to around 3,700 on the S & P 500. However, Wells Fargo is maintaining its year-end target of 4,200 on the benchmark. CNBC PRO readers can see all the other major Wall Street firms' S & P predictions by going to our strategist survey , which is updated regularly.

☆ Risk reward in market deteriorating every day, says Wells Fargo’s Chris Harvey
▼ + stars: | 2023-04-06 | 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 EmailRisk reward in market deteriorating every day, says Wells Fargo’s Chris HarveyChristopher Harvey, Wells Fargo Securities head of equity strategy, joins "Fast Money" to discuss his outlook on the U.S. economy.

☆ Tech's on a roll. But some market pros aren't convinced
▼ + stars: | 2023-02-16 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Bill Smead, chief investment officer at Smead Capital Management, for example, says it has the hallmark of a bear market rally. "We believe that enthusiasm for aggressive technology-oriented stocks in the last couple of months is exactly what you get in a bear market rally. Whether it be Tesla or any of the aggressive growth stocks, they are in a bear market rally and they are going to try to convince people that the bear market is over. "And that's what a bear market rally looks like it. JPMorgan has also turned more bearish on the tech sector, just months after it turned positive on the sector in October.

The S&P is 10.6% above its Oct. 12 closing low for 2022, though still down 17% for the year. "If you're sitting in cash and the market rallies, you might think you were greedy waiting for a bigger discount." Institutional investors' exposure to stocks was low going into Thursday's inflation report. Last month's fund manager survey from BofA Global Research showed investors' cash levels at their highest since April 2001. Lewis said he had not seen so-called real money – a term for mutual funds, pension funds and other non-leveraged market investors – participating in Thursday's rally, though he saw no evidence of selling from that cohort, either.

☆ Wells Fargo says buy small caps over large caps. Here are 10 favorites
▼ + stars: | 2022-11-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Small-cap stocks in Wells Fargo's portfolio are poised to outperform their larger counterparts. "Last year we said small-cap Quality was historically mispriced, but did not think the macro environment favored small caps over large caps," he said in a Monday note to clients. "Going forward, we still believe in a High Quality approach, and we now expect small caps to outpace large caps." Harvey said small caps are technically oversold, but they are beginning to "bounce" while having "more attractive" valuations. The portfolio includes about three dozen stocks that Wells Fargo calls "high quality" small caps.

☆ Dow drops over 600 points, Nasdaq nearly 4% lower as job gains remain steady, complicating Fed effort to lower prices
▼ + stars: | 2022-10-07 | by ( Tanaya Macheel | Tanaya Macheel Is A Cryptocurrency | Financial Technology Reporter For Cnbc. | ) www.nbcnews.com time to read: +2 min

Stocks fell on Friday as traders evaluated September’s jobs report, which showed the unemployment rate continuing to decline and sparked an increase in interest rates. The Dow Jones Industrial Average fell 682 points, or 2.3%, to 29,264.39. The Nasdaq Composite slid 3.9% to 10,651.75, which is less than 1% above its low of the year. Friday’s jobs numbers showed the U.S. economy added 263,000 jobs in September, slightly below a Dow Jones estimate of 275,000. Friday’s losses trimmed the gains for what started out as a big comeback week for stocks.

☆ Why the Federal Reserve won't be so quick to ease up on its fight against inflation
▼ + stars: | 2022-10-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Jerome Powell, chairman of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they're willing to tolerate a recession as the necessary trade-off for regaining control of inflation. That's monetary policy in this era of rapid inflation, swooning economic growth and heightened fears over what could go wrong. "But I would argue that they're still being overly optimistic at which the inflation rate is going to decelerate on its own." "Right now, the pain that I hear, the suffering that people are telling me what they're going through, is on the inflation side," she said during a talk at the Council on Foreign Relations.

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