Wells Fargo supports the US stock market! Warns investors against being overly optimistic about emerging market stocks
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Wells Fargo advises investors to reduce their holdings in emerging market stocks and instead invest in U.S. stocks. Although emerging markets have outperformed the S&P 500 index, the dollar is expected to strengthen, and tensions in U.S.-China relations may pose risks. Wells Fargo's investment strategist Austin Pickle pointed out that market sentiment towards emerging markets is overly optimistic, and while a global economic rebound is expected in 2025, emerging market returns will still lag behind the U.S. market
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