Wells Fargo(US:WFC) Ge Long Hui A P P·2025-10-29 02:57Core Viewpoint - Wells Fargo predicts a comprehensive rally in the U.S. stock market before the end of the year, with various risk assets expected to rise in tandem, driven by multiple market positives [1] Summary by Categories Market Predictions - The S&P 500 index is forecasted to reach 7100 points by the end of this year, influenced by seasonal effects, AI investment momentum, favorable policies, and consumer stimulation [1] Investment Themes - The analysis team, led by Ohsung Kwon, is optimistic about high-yield bonds, high-beta stocks, small-cap stocks with high AI capital expenditures, and re-inflation trading themes [1] Bullish Reasons - Five key bullish reasons are highlighted: 1. A rebound in lagging stocks 2. AI capital expenditures are expected to deliver surprises again 3. The U.S. Supreme Court is anticipated to review challenges to tariff measures under the International Emergency Economic Powers Act (IEEPA) 4. Tax incentives from the Inflation Reduction Act 5. Historical data shows that the S&P 500 index averages a 2.6% increase one month after government re-openings [1]