STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - The S&P 500 will likely struggle to make more headway after rallying almost 14% so far this year as investors start to question the sustainability of the U.S. economy's resilience, Morgan Stanley equity strategists said.
"While limited in downside magnitude, this recent price action is a change and suggests stocks may be starting to question the sustainability of the economic resiliency we experienced in the first half of the year," said Wilson. Wilson also sees fading tailwinds from excess savings among consumers, which leaves consumer discretionary stocks vulnerable.
Barclays notes that consumers will likely deplete their savings made during the COVID-19 pandemic by January of February of next year.
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U.S. stocks may start to question economic resilience, says Morgan StanleyFirm’s equity strategists think S&P 500 will likely struggle to make more headway
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Morgan Stanley Sees Mood on US Stocks Souring, Goldman DisagreesTwo of Wall Street’s top strategists are at odds about the outlook for US stocks following a three-week run of declines as debate rages over whether the economy can avoid a recession.
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