News Formal

Morgan Stanley strategist who called the bear market sees a new low in the fourth quarter

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Morgan Stanley says it sees stocks falling below their June lows before the end of the year.

The stock market has struggled lately, and there may be more pain ahead for equity investors, according to Morgan Stanley. Mike Wilson, the bank's chief investment officer and chief U.S. equity strategist, said he expects the S & P 500 to hit a low of around 3,400 in the fourth quarter. That's more than 13% below Friday's close and well below the mid-June low of 3,666. "If a recession arrives," the benchmark index could fall to 3,000, Wilson said.

Wilson's call comes as investors are on watch for a retest of the June lows . The market is coming off its third down week in a row. On top of that, September is historically a poor month for the market. "While the June low for stocks and bonds was dramatic, we've consistently been in the camp that it wasn't THE low for the S & P 500 in this bear market," chief investment officer and chief U.S. equity strategist Mike Wilson said in a note Monday.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Here's what Morgan Stanley says will fuel another decline in stocksMorgan Stanley strategist Mike Wilson says there's more pain in store, but for a different reason.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »