Wall Street’s Stock Market Calls Vary by Firm — and by Floor

Take Morgan Stanley. At the company’s brokerage, strategist Mike Wilson says US stocks will fall more than 10% before the year is out. On the asset management side of the bank, portfolio manager Andrew Slimmon reckons they’ll hit a record high.

“If you’re a portfolio manager, you’re seeing revisions are going up, and if you don’t own these stocks, it is painful every day,” Slimmon, senior portfolio manager at Morgan Stanley Investment Management, said in an interview. “If you’re a strategist, you don’t have to get on the scale every day.” Slimmon’s calculus tells him a different story. He predicts that expectations for positive earnings growth in 2024 and a rush of sidelined cash piling into shares will lift the benchmark to as high as 5,000 points.

Over at BNP Paribas, chief US equity strategist Greg Boutle holds the lowest year-end price target on Wall Street: 3,400. At their asset management subsidiary, Head of Equities Geoff Dailey expects a soft landing for the US economy and says it bodes well for stocks.US stocks pulled back in early August as investors came to accept the idea that the Fed will keep interest rates higher for longer to try to quash inflation.

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.

Stock market today: Wall Street is off to downbeat start following two weeks of gainsNEW YORK (AP) — Stocks are off to a weak start on Wall Street as traders return from a long holiday weekend. The S&P 500 was off 0.3% in the early going Tuesday. The index is coming off its second weekly gain. The Dow slipped 63 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street ends lower following two weeks of gainsNEW YORK — Stocks closed lower on Wall Street as traders return from a long holiday weekend. The S&P 500 fell 0.4% Tuesday. The index is coming off its second weekly gain. The Dow lost 0.6% and the Nasdaq slipped 0.1%. Crude oil prices rose.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens lower as weak stretch continuesNEW YORK (AP) — Stocks are opening lower on Wall Street, continuing a weak stretch on this holiday-shortened week. The S&P 500 slipped 0.4% in the early going Wednesday. The Dow fell 131 points, or 0.4%, and the Nasdaq composite gave back 0.4%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian shares fall back amid selling of China property sharesShares fell back Tuesday in Asia after U.S. markets were closed for the Labor Day holiday. U.S. futures also were lower and oil prices were mixed. Hong Kong fell more than 1% as Chinese property stocks declined as investors sold to lock in gains fueled by recent efforts to support the ailing industry. China Vanke lost 1.2%, while Country Garden Holdings gave up 2%. Hong Kong-based Sun Hung Kai Properties shed 2.4%. Chinese services data came in weaker than expected, dulling hopes for a rebound i
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Instant settlement of Indian stock market trades to come in by Oct 2024By Jayshree P Upadhyay MUMBAI (Reuters) - India's market regulator expects instant settlement of stock market trades to be implemented by October ...
Source: SaltWire Network - 🏆 45. / 63 Read more »