The bear market rally is running out of stream, and it is time to take profits, says Morgan Stanley’s Wilson

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

The stock market’s bounce off the October lows is running out of room, and it is time to take profits, according to Morgan Stanley's chief equity strategist.

The stock market’s bounce off the October lows is running out of room, and it is time to take profits, according to Morgan Stanley’s Michael Wilson.

The chief equity strategist who correctly predicted this year’s stock-market selloff, now expects the S&P 500 to resume declines from the beginning of the year, after the benchmark last week crossed above its 200-day moving average. Wilson also said in November the S&P 500 will set a new price trough of 3,000 to 3,300 in the first quarter of 2023, before jumping back to the 3,900-level by the end of the year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweightBeijing and Shenzhen announced over the weekend they would lift measures that required commuters to show negative Covid test results before travel. MS the smartest among the US I-Bank. Better late than never.
Source: CNBC - 🏆 12. / 72 Read more »