Wells Fargo economists are lowering their year-end S&P 500 forecast to 7,300 from 7,800 due to the US-Iran conflict. Ohsung Kwon warns the headwind builds exponentially each day but remains bullish on stocks. President Trump hints at peace negotiations.
Other major banks' forecasts vary, with Morgan Stanley predicting US stocks nearing a bottom and Barclays raising their projections based on expected company profits.