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has the us stock market peaked in the short term? wells fargo: three unfavorable factors will limit the rise

2024-09-12

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cailianshe news, september 12 (editor: liu rui)after experiencing a strong performance that continuously set new highs in the first half of this year, the u.s. stock market seems to have paused its upward momentum since july and has fallen into a period of sharp fluctuations.

this wednesday, u.s. stocks fell briefly at the beginning after experiencing the impact of cpi data, then fluctuated upward and finally achieved a v-shaped rebound, achieving three consecutive trading days of gains, and rebounded significantly from last friday's low. there is only about 2% room for growth from the previous historical high.

however, wells fargo still believes that u.s. stocks may still not be able to break through the record high of 5,669.67 set this summer in the short term, and the previous months of gains may come to a temporary halt.

wells fargo strategists warned that u.s. stocks are unlikely to rise sharply in the coming months. in their view, the current valuation of stocks is already the most reasonable level.

s&p 500 year-to-date trend

three factors may limit the rise of us stocks

in the first half of this year, u.s. stocks have been on the road to new highs. it was not until mid-july that the s&p 500 index rose to a record high of 5,669.67 points, and then began to fluctuate and fall. as of the close of wednesday this week, the s&p 500 index was trading around 5,554 points.