{"id":826,"date":"2023-02-14T19:46:43","date_gmt":"2023-02-15T00:46:43","guid":{"rendered":"https:\/\/embarrdowns.com\/wells-fargo-announces-end-of-bear-market-what-does-it-mean-for-cryptos\/"},"modified":"2023-02-14T19:46:44","modified_gmt":"2023-02-15T00:46:44","slug":"wells-fargo-announces-end-of-bear-market-what-does-it-mean-for-cryptos","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/wells-fargo-announces-end-of-bear-market-what-does-it-mean-for-cryptos\/","title":{"rendered":"Wells Fargo Announces End of Bear Market: What Does It Mean for Cryptos?"},"content":{"rendered":"

Wells Fargo & Co., one of America\u2019s largest banks, has announced that the bear market is over, according to the bank\u2019s top equity strategist Chris Harvey. The bear market, which wiped out as much as $12 trillion in US equity values, has been a long and turbulent period for investors, causing significant losses.[0]<\/a><\/sup> <\/p>\n

Harvey\u2019s report states that the recent pullback in the yield of investment-grade corporate bonds is \u201cinconsistent\u201d with an extended bear market in the important S&P 500 stock index.[1]<\/a><\/sup> He also notes that \u201cbear markets often end when we see sharp tightenings and healthy issuance similar to what we have experienced over the last several months.\u201d[2]<\/a><\/sup> <\/p>\n

Harvey has a year-end target for the S&P 500 of 4,200, which puts his target just 1.5% above Monday\u2019s closing price.[3]<\/a><\/sup> This suggests that Harvey is not overly bullish on stocks for this year, although he believes the worst to be over.[3]<\/a><\/sup><\/p>\n

The news of the end of the bear market could be good news for the crypto market, as it suggests that investors may feel more comfortable investing in riskier assets. If the bear market is over, it is likely that investors will be looking for new opportunities to take advantage of, potentially including cryptos. This could mean that cryptos could see an influx of new investment in the coming months. <\/p>\n

Only time will tell what the future holds for the stock market and, by extension, the crypto market. For now, however, Wells Fargo\u2019s top analyst has predicted that the bear market is over and that could mean good news for cryptos.<\/p>\n

0. <\/span>“The Bear Market That Wiped out as Much as $12 Trillion in US Equity Value is Over, … – Latest Tweet by” LatestLY, 13 Feb. 2023, https:\/\/www.latestly.com\/socially\/business\/the-bear-market-that-wiped-out-as-much-as-12-trillion-in-us-equity-value-is-over-latest-tweet-by-bloomberg-4837837.html<\/a><\/a><\/p>\n

1. <\/span>“Bear Market Is Over in Stocks, Wells Fargo’s Chris Harvey Says” Bloomberg, 13 Feb. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-02-13\/wells-fargo-s-chris-harvey-says-bear-market-is-over-in-stocks<\/a><\/a><\/p>\n

2. <\/span>“Stock market crash is over but the bull is ‘stuck in traffic’, Wells Fargo says” Markets Insider, 14 Feb. 2023, https:\/\/markets.businessinsider.com\/news\/stocks\/stock-market-crash-over-bull-stuck-in-traffic-wells-fargo-2023-2<\/a><\/a><\/p>\n

3. <\/span>“Wells Fargo’s Top Analyst Predicts End of Stocks Bear Market \u2013 What Does This Mean for Cryptos?” Cryptonews, 14 Feb. 2023, https:\/\/cryptonews.com\/news\/wells-fargos-top-analyst-predicts-end-of-stocks-bear-market-what-does-mean-for-cryptos.htm<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wells Fargo & Co., one of America\u2019s largest banks, has announced that the bear market is over, according to the bank\u2019s top equity strategist Chris Harvey. The bear market, which wiped out as much as $12 trillion in US equity values, has been a long and turbulent period for investors, causing significant losses.[0]<\/a><\/sup> <\/p>\n

Harvey\u2019s report states that the recent pullback in the yield of investment-grade corporate bonds is \u201cinconsistent\u201d with an extended bear market in the important S&P 500 stock index.[1]<\/a><\/sup> He also notes that \u201cbear markets often end when we see sharp tightenings and healthy issuance similar to what we have experienced over the last several months.\u201d[2]<\/a><\/sup> <\/p>\n

Harvey has a year-end target for the S&P 500 of 4,200, which puts his target just 1.5% above Monday\u2019s closing price.[3]<\/a><\/sup> This suggests that Harvey is not overly bullish on stocks for this year, although he believes the worst to be over.[3]<\/a><\/sup><\/p>\n

The news of the end of the bear market could be good news for the crypto market, as it suggests that investors may feel more comfortable investing in riskier assets. If the bear market is over, it is likely that investors will be looking for new opportunities to take advantage of, potentially including cryptos. This could mean that cryptos could see an influx of new investment in the coming months. <\/p>\n

Only time will tell what the future holds for the stock market and, by extension, the crypto market. For now, however, Wells Fargo\u2019s top analyst has predicted that the bear market is over and that could mean good news for cryptos.<\/p>\n

0. <\/span>“The Bear Market That Wiped out as Much as $12 Trillion in US Equity Value is Over, … – Latest Tweet by” LatestLY, 13 Feb. 2023, https:\/\/www.latestly.com\/socially\/business\/the-bear-market-that-wiped-out-as-much-as-12-trillion-in-us-equity-value-is-over-latest-tweet-by-bloomberg-4837837.html<\/a><\/a><\/p>\n

1. <\/span>“Bear Market Is Over in Stocks, Wells Fargo’s Chris Harvey Says” Bloomberg, 13 Feb. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-02-13\/wells-fargo-s-chris-harvey-says-bear-market-is-over-in-stocks<\/a><\/a><\/p>\n

2. <\/span>“Stock market crash is over but the bull is ‘stuck in traffic’, Wells Fargo says” Markets Insider, 14 Feb. 2023, https:\/\/markets.businessinsider.com\/news\/stocks\/stock-market-crash-over-bull-stuck-in-traffic-wells-fargo-2023-2<\/a><\/a><\/p>\n

3. <\/span>“Wells Fargo’s Top Analyst Predicts End of Stocks Bear Market \u2013 What Does This Mean for Cryptos?” Cryptonews, 14 Feb. 2023, https:\/\/cryptonews.com\/news\/wells-fargos-top-analyst-predicts-end-of-stocks-bear-market-what-does-mean-for-cryptos.htm<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":825,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/826"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=826"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/825"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}