Wells Fargo issues Wall Street's most bullish forecast yet for the stock market in 2025
Published On Dec 3, 2024, 3:38 PM
Wells Fargo's equity strategist Christopher Harvey has predicted a bullish outlook for 2025, forecasting the S&P 500 to reach 7,007, suggesting a 26% increase from current levels. This optimistic scenario is based on expectations of a favorable macro environment, expanding corporate margins, and increased M&A activity as the U.S. economy is projected to grow faster than the current consensus of 2.1%. Harvey believes this growth will broaden the rally beyond just the largest tech stocks to the entire S&P 500.