Morgan Stanley chief US equity strategist Mike Wilson says a 10% market correction between now and the election is"highly likely." Inwith Bloomberg Television, Wilson cites uncertainty around the election, earnings, and Fed policy as some of the reasons for a potential pullback, adding that he thinks the third quarter will be"choppy.
But leading up to that, there's a larger question Mark L for the Democratic Party of whether or not the current president, who is the front runner for its party and convention going into the convention, is set to potentially pull back or pull out of the race as well. And he placed the odds of the stock prices actually closing higher from current levels and now at just 20 to 25%.
And then that is really looking at some of the profit taking that could come forward and some of the sectors that have been extremely overcrowded or the trades that have been extremely overcrowded. On one instance And then it's people sitting on our investors sitting on some of that cash to try and decide where they would deploy it next and how long they sit on that cash could eventually get us to what Mike Wilson is talking about in a 10% market correction.
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