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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall-caps and value stocks just don't work in this environment, says Wells Fargo's HarveyChris Harvey, Wells Fargo Securities head of equity strategy, joins 'Squawk on the Street' to discuss Harvey's thoughts on equities this year, why Harvey likes 'uber-cap' stocks, and the spread between small and large-cap stocks.
Persons: Wells Fargo's Harvey Chris Harvey, Harvey Organizations: Wells, Wells Fargo Securities Locations: Wells Fargo
Following on the rebalancing of S & P indexes last week, on Friday the Russell indexes will do their annual rebalancing. FTSE Russell also has a vast suite of products indexed to benchmarks like the small-cap Russell 2000 , the large-cap Russell 1000 , and the Russell 1000 Growth and Value indexes. FTSE Russell estimates that about $12.1 trillion is currently benchmarked to the FTSE Russell indexes. On average, about 12% of the Russell 2000 (about 242 stocks) turns over every year since 2006, according to FTSE Russell. This year, about 15% of the Russell 2000 will turnover, and about 2% of the Russell 1000, according to Wells Fargo.
Persons: Russell, It's, Wells Fargo, Chris Harvey, Mike O'Rourke, Wells Fargo's Harvey Organizations: Russell, Technology, Apple, Microsoft, Nvidia, Investors, Netflix, Google, FTSE Russell, Jones, Amazon Locations: Wells Fargo, Freeport McMoRan .
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'People are getting too excited about the debt ceiling in the short-term', says Wells Fargo's HarveyChris Harvey, Wells Fargo Securities head of equity strategy, joins 'Closing Bell Overtime' to discuss current market drivers, investing opportunities, and debt ceiling optimism.
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.
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