Morgan Stanley, Goldman Sachs at odds on S&P 500’s bull market rally

Wilson said the pause could mark the end of the rally “in an ironic twist” as liquidity tightens. The strategist expects S&P 500 earnings to drop 16 per cent this year before a sharp recovery in 2024.

Wilson ranked No. 1 in last year’s Institutional Investor survey after correctly predicting the selloff in stocks, but his outlook for further declines in 2023 has proved wrong so far.Article content “Prior episodes of sharply narrowing breadth have been followed by a catch-up from a broader valuation re-rating,” strategists led by Kostin said in a note on June 9.

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