20-05-2025
Wells Fargo Says to Buy US Stocks and Cut EM After Strong Rally
Investors should reduce their holdings of emerging market equities and buy US stocks instead, according to Wells Fargo & Co.
While shares in up-and-coming economies have outperformed the S&P 500 benchmark index this year, emerging market outperformance is typically correlated with a weak dollar, Austin Pickle, an investment strategist, wrote a note dated May 19. He forecasted a stronger greenback while flagging the risk of China-US tensions.
