Wells Fargo: After the Federal Reserve cuts interest rates, the stock market will see a surge not seen in 30 years

2024-08-16 11:05:49

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ChainCatcher news, Paul Christopher, the global investment strategist at Wells Fargo, stated that the U.S. stock market is set to experience a rally like never seen in the past 30 years.

Paul Christopher believes that today's market is similar to that of 1995, when the stock market was booming and the S&P 500 Index (SPX) set 77 historical highs. Investors may face a similar environment. This is because inflation is declining, the economy "is not collapsing," and the U.S. Department of Commerce estimates that the GDP grew by 2.8% year-on-year in the second quarter.

Paul Christopher told CNBC on Thursday that the Federal Reserve "is in a favorable position if it can be sufficiently proactive."

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