Wells Fargo: With Fed expected to cut 175 bps through 2025, buy the dip in stocks [Yahoo! Finance]
NexGel, Inc (NXGL)
Company Research
Source: Yahoo! Finance
Following a sharp rally in the S&P 500 index (SPX), equity valuations became stretched and a pullback was overdue, said Scott Wren, Wells Fargo's Senior Global Market Strategist. Wrenn said Wells Fargo deliberately refrained from chasing equity markets higher, citing concerns over high valuations and an expectation that the economy may continue to slow in the coming quarters. He pointed to potential weaknesses in the labor market and emerging headwinds for consumer spending in the near to intermediate term. "Our analysis suggested investors were too optimistic as the SPX was notching new record highs," he said. However, Wells Fargo maintained that, based on their economic outlook through the end of 2025, market downturns in the SPX could generate buying opportunities. Such an opportunity arose in recent weeks, as concerns over a weaker employment report and a soft manufacturing reading sparked fears that the Federal Reserve had fallen behind in cutting interest rates. The S
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- NEXGEL Reports Record Second Quarter 2024 Revenue of $1.44 Million [Yahoo! Finance]Yahoo! Finance
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NXGL
Sec Filings
- 9/17/24 - Form 4
- 9/17/24 - Form 4
- 9/17/24 - Form 4
- NXGL's page on the SEC website