Dow Futures Trade Flat After Indices Finish at 3-Month Lows

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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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