Amazon and CoreWeave: Wells Fargo Turns Bullish on Tech Leaders Amidst Market Rally
New York, NY – September 26, 2024 – Despite ongoing economic uncertainty, stock markets continue to demonstrate resilience, with the S&P 500 up 13% and the NASDAQ soaring 16.5% year-to-date.This sustained rally has analysts optimistic,especially as concerns about economic growth moderate.
Wells Fargo’s Senior Global Market Strategist, Scott Wren, points to surprisingly robust consumer spending and a stable labor market as key factors. “Tariff impacts have been less than predicted, and companies are holding steady on hiring,” Wren explained. “This, coupled with improving growth expectations, is driving a rise in S&P 500 earnings estimates.”
This positive outlook has prompted wells Fargo to issue bullish ratings on two prominent tech companies: Amazon (NASDAQ: AMZN) and **CoreWeave (NASDAQ:
