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Financial Health
September 24, 2020

Market volatility update from Wells Fargo Investment Institute

Sept. 24, 2020: “Sustained higher volatility is likely here with us for the foreseeable future,” said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management.

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In your opinion, how will Fed Chairman Powell’s comments affect the market?

The markets don’t have to worry so much about when the Fed might start raising interest rates. During a market update from Aug. 27, 2020, Paul Christopher, head of Global Market Strategy for Wells Fargo Investment Institute, discussed the implications of Federal Reserve Chairman Jerome Powell’s revised stance on inflation policy.

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What drove the S&P to an all-time high?

There’s been a number of factors driving the S&P 500 to a new high. During a market update from Aug. 20, 2020, Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management, discussed how government stimulus, hard asset prices, and other factors contributed to the recent high in the S&P 500.

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Which sectors are doing best so far in the reopening?

E-commerce, health care, technology, and housing are among market sectors that are performing well. During a market update from Aug. 20, 2020, Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management, discussed market sectors that are doing well in the economic recovery from the COVID-19 pandemic.

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What does a select number of stocks doing well say about the market?

We think we’re approaching a period in the autumn when there will be more turbulence. During a market update from Aug. 27, 2020, Paul Christopher, head of Global Market Strategy for Wells Fargo Investment Institute, discussed the implications of a few stocks leading the rise in the market.

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How is the dollar doing against other currencies?

Lately, the dollar has continued to fall. During a market update from Aug. 20, 2020, Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management, explained the downward pressure on the U.S. dollar.

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Do you believe this is the time to reinvest in the market?

We still think there’s opportunity in some of the places we like. During a market update from May 28, 2020, Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management, discussed strategies for investors given the current U.S. economic challenges.

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What are your thoughts on cash?

We don’t want to pull cash out of the market just because we expect some turbulence. During a market update from Aug. 27, 2020, Paul Christopher, head of Global Market Strategy for Wells Fargo Investment Institute, discussed the impulse some investors have to go to cash in times of market volatility.

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How are the oil markets currently doing?

We think oil prices are likely to stay stable. During a market update from Aug. 27, 2020, Paul Christopher, head of Global Market Strategy for Wells Fargo Investment Institute, discussed recent fluctuation in oil markets.

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