From Yahoo Finance: 2025-05-04 11:20:00

US stocks rose on Friday, May 2, with the S&P 500, Dow Jones, and Nasdaq all posting gains. S&P 500 added 1.5%, marking the longest winning streak since 2004. Dow rose 1.4%, and Nasdaq gained 1.5%. China’s openness to trade talks and a strong US jobs report contributed to the rally.

China indicated willingness to engage in trade talks, easing concerns about the US-China trade war. The US economy added 177,000 nonfarm payrolls in April, surpassing expectations. Unemployment rate remained steady at 4.2%. Positive trade talk signals and strong job growth boosted Wall Street confidence.

Wells Fargo & Company (WFC) is a profitable cheap stock to buy now, with a forward P/E of 12.52, TTM net income of $18.91 billion, and 96 hedge fund holders. Despite Phillip Securities upgrading WFC to “Buy,” some AI stocks may offer higher returns. Consider exploring AI stocks for potentially greater returns.

Phillip Securities upgraded Wells Fargo & Company (WFC) to “Buy” from “Accumulate” with a reduced price target. The bank’s performance post-Q1 2025 earnings report led to this decision. WFC is expected to have a slow but stable 2025, with net interest income recovery and lower expenses from efficiency initiatives projected.

Institutional investors heavily favor the 10 most profitable cheap stocks to buy now, with WFC ranking 7th. While WFC shows promise, AI stocks may offer greater potential returns in a shorter timeframe. Explore AI stocks for investment opportunities that could outperform traditional stocks.



Read more at Yahoo Finance: Is Wells Fargo & Company (WFC) The Most Profitable Cheap Stock to Buy Now?