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Add Equity Exposure As Double Bottom Attempt is Underway - Canaccord Genuity

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Wells Fargo Says FOMC Will Not Cut at First Sign of Economic Weakness

September 27, 2022 6:27 AM EDT

Wells Fargo Says FOMC Will Not Cut at First Sign of Economic Weakness.

Wells Fargo Economist Jay Bryson comments "We now look for the FOMC to hike its target range for the fed funds rate by 75 bps at the November 2 meeting and by 50 bps at the policy meeting on... More

S&P 500 Fair Value Appears to be 3630 - Wells Fargo

September 26, 2022 7:23 AM EDT

Wells Fargo's Christopher Harvey: The cracking of investor confidence and the dramatic back-up in interest rates has caused us to reduce our SPX trading range from 3800-4300 to 3350-3950. SPX fair value based upon a 6.15% discount rate appears to be 3630, or 1-2% lower than Friday's close (see calculation below)."

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BTIG's Krinsky Sees 'Some Evidence of Capitulation' as S&P 500 Nears 200-WMA Below 3600

September 26, 2022 7:19 AM EDT

Jonathan Krinsky, BTIGs Chief Market Technician, believes that fears about the long-term implications of current macro headwinds on markets are justified. More recently, Krinsky warned the firms clients that the S&P 500 is poised to drop below 3900 after the index completed a head-and-shoulders pattern.

As the S&P... More

"Recession not priced in" Says Berenberg

September 26, 2022 7:00 AM EDT

"Recession not priced in" Says Berenberg analyst Jonathan Stubbs.

The analyst comments "European and UK equities are trading below their long-term average forward P/E multiples (although there is uncertainty over forward earnings) and in line with their long-term average trailing dividend yields. This compares to the... More