S&P 500 Could Soar to Above 7,000, Says Wells Fargo
Wells Fargo’s Christopher Harvey believes the S&P 500 is heading much higher. His latest prediction sets the index at 7,007 by year-end 2025.
That would mark a 24% jump from its recent close at 5,650.38. It’s the boldest forecast on Wall Street right now.
Investors are still digesting yesterday’s dip. The S&P 500 slipped 0.6%, ending its longest win streak since 2004.
Market Rerating Could Drive the Rally
Harvey doesn’t see the dip as a warning sign. He says the market is repricing both risk and expectations. That shift, he argues, lays the groundwork for a broader run.
Strong returns in 2023 and 2024—each with gains around 20%—already set the tone. Harvey expects that momentum to continue as macro conditions improve.
“If you think rate cuts are coming, you expect growth to follow,” he said.
June Rate Cuts Could Kick Things Off
While the Fed has stayed silent on cuts, Harvey predicts the first move could come as soon as June 2025.
He views lower interest rates as a key spark. They would reduce borrowing costs, boost business confidence, and fuel equity strength.
Trade tensions still create noise, but Harvey downplays their long-term impact. He believes market fundamentals will overpower near-term headlines.
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