Today news
About the same in other media
15.11 - 17:55
Market’s biggest bull sees year-end rally, but warns it's setting up Wall Street for a scare next year
Reading now: 674
cnbc.comChris Harvey's reign as the year's biggest bull won't extend into next year.
The Wells Fargo Securities head of equity strategy, whose 2021 S&P 500 target is 4,825, predicts Wall Street will stage a vibrant year-end rally and then see a losing 2022.
«You're going to bring equities to a level that they can't sustain. We'll have the equity market melt-up,» he told CNBC's "Trading Nation" on Friday. «We'll bring stocks to a level where the fundamentals and valuations don't support them.»
The S&P 500, Nasdaq and Dow ended the week in record territory. The S&P and Nasdaq were up 7% in October while the Dow gained 6%.
«What we're seeing from a lot of individuals and investors is they feel like the market is unbreakable at this point in time.
Read more on cnbc.comAbout this in other media
Binance Smart Chain is growing, but is it really competition for Ethereum ambcrypto.com /3 years ago
Biden, Xi Teams Set Modest Hopes for Monday Talks wsj.com /3 years ago
Litecoin rallied, yes, but it needs this more than anything going forward ambcrypto.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
