Morgan Stanley sees rough ride for U.S. stocks in 2023 - BNN Bloomberg

U.S. stocks will end 2023 almost unchanged from their current level -- but will have a bumpy ride to get there, according to Morgan Stanley's Michael Wilson.

The portfolio strategist -- who correctly predicted the slump this year and is ranked No. 1 in the latest Institutional Investor survey -- said consensus earnings estimates for 2023 are still much too high. His base case is for U.S. company profits to decline 11 per cent in 2023, before a strong rebound in 2024 as positive operating leverage returns.

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Company says it will launch Nanaimo-Vancouver passenger ferry in summer 2023The Vancouver Island Ferry Company’s plans call for multiple daily 70-minute sailings on two high-speed catamarans at a “cost-effective” price, with customers able to reserve seats in different classes or travel as walk-on passengers
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