Wells Fargo forecasts S&P 500 at 7,900 by year-end, expects zero Fed rate hikes
Darrell Cronk, CIO of Wells Fargo Wealth and Investment Management, forecasts the S&P 500 will reach 7,900 points by the end of this year. His baseline scenario assumes zero interest rate hikes by the Federal Reserve. Cronk told Bloomberg Surveillance that current market movements represent a rotation within equities, not a broad selloff.
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