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Stocks are about to plunge, Wells Fargo strategist warns
Gina Martin Adams is sticking to her guns. The Wells Fargo strategist has been bearish on stocks all year, even as she watched the S&P 500 add 21 percent. And on Thursday's "Futures Now," Adams reiterated her call that the index would close out the year at 1,440. "Our target is based on fundamentals," Adams insisted. "We're basing our target on typical valuation measures, given the level of interest rates and also on earnings forecasts. And that's why our target is relatively low." In fact, "low" is somewhat of an understatement. Adams' target implies that the market will drop 16 percent in little more than three ... (full story)
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