News list for "Wells Fargo"
Aroop Chatterjee, a macro strategist at Wells Fargo, wrote in a research note on Wednesday that the rise in trade policy uncertainty looks set to continue, reducing risk appetite, increasing foreign exchange risk premiums and pushing up the dollar. Dollar gains are likely to be concentrated against emerging market currencies and cyclical G-10 currencies. If near-term growth risks prove to be more pronounced, currencies sensitive to falling U.S. Treasury yields could rise, with "the yen leading t...
Wells Fargo expects the Federal Reserve to implement two 25 basis point rate cuts this year, in September and December, after forecasting three rate cuts.
Wells Fargo said it is increasingly unlikely that the Federal Reserve will cut interest rates in March.
The securities arm of Wells Fargo believes that favorable macroeconomics and accommodative monetary policy will continue to propel the U.S. stock market, which has performed well in 2023 and 2024. Christopher Harvey, head of equity strategy at Wells Fargo, wrote in a note to clients on Dec. 3 that the S & P 500 would stand at 7,007 by the end of December. At Wednesday's close of 6,086, the gain would be 15 percent. The benchmark, which climbed 24 percent in 2023, is up 28 percent this year, the ...
Sarah House, managing director and senior economist at Wells Fargo, and Aubrey Woessner, economic analyst, said that the U.S. CPI in November may show that anti-inflation progress is stalling. The unquarterly CPI annual rate is expected to rise from 2.6% to 2.7%. They believe that the unquarterly core CPI annual rate will stay in a narrow range of 3.2% -3.3% for the sixth consecutive month. Although some inflation factors such as the overheating labor market continue to fade, new headwinds have ...
The Fed still appears to have room for further policy readjustment to avoid the labor market cooling beyond its comfort point without reigniting inflation, Wells Fargo said. "The Fed is expected to cut interest rates by 25 basis points, with risks favoring the FOMC to keep rates on hold. Recent signs of funding stress lead us to expect the Fed to discuss the current pace of quantitative tightening (QT) at its November meeting. QT is expected to end in Quarter 1, 2025. I wouldn't be surprised if ...
Sarah House and Aubrey Woessner of Wells Fargo have written that inflation in the United States is likely to remain above the Federal Reserve's 2% target for now. The Consumer Price Index for October, to be released next week, "may show that progress in removing that last bit of inflation is still frustratingly slow". They forecast overall CPI growth of 0.2% in October, the same as September's increase, taking the annual rate from 2.4% to 2.5%. Core CPI is expected to rise 0.3% for the third str...
Wells Fargo (WFC. N) fell more than 3 percent in premarket trading.
Wells Fargo (WFC. N) plunged in intraday trading, widening its decline to 6%.
Economists at Wells Fargo wrote in a recent note: "The August jobs report did little to resolve the debate over whether to cut rates by 25 basis points or 50 basis points this month. We stand by the expectation of a 50 basis point cut, but acknowledge that a 25 basis point cut is a real possibility." Fed funds futures moved in both directions on Friday as the market was confused about how to interpret comments made by Federal Reserve Governor Paul Waller after the release of the data. Traders ha...
