S&P 500 Set for Double-Digit Gain on Big Tech, Wells Fargo’s Equity Strategist Says

The S&P 500 Index is looking at a double-digit increase in the second half of the year, powered by the resilient strength of America’s technology behemoths, according to Wells Fargo Securities LLC’s Christopher Harvey.

The bank’s top US equity strategist is Wall Street’s biggest bull, with a year-end price target on the S&P 500 of 7,007, set in December. He’s sticking to his call, implying an 11% gain from Monday’s closing price of 6,305.60. His view is that Big Tech companies, which have been instrumental in the equity gauge’s 27% surge since its April low, will keep the stock market soaring regardless of President Donald Trump’s ever-changing trade policies.