Wall Street is not ready to cut this entire week a loss as stocks have not posted gains for a single day this week. But despite the turbulence, Scott Wren, the Senior Global Equity Strategist at Wells Fargo Investment Institute (WFC), says ‘volatility is your friend, have a plan and be ready to execute.’ Wells Fargo likes the cyclical sectors and is overweight consumer discretionary, information technology and industrials. Wren says ‘stocks are not expensive but close to fair value at this point in time’ and does not advise his clients to sit on the sidelines. Wells Fargo Investment Institute’s 2015 year-end target range for the S&P 500 is 2150-2250.
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