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S&P 500 to reach bear market low in fourth quarter: Morgan Stanley

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The bear market for US equities is far from over if Morgan Stanley’s downgraded earnings forecast proves correct.

P 500 is headed sharply lower as the year progresses, especially if the US economy enters a recession, according to Morgan Stanley’s chief equity strategist, Mike Wilson.

“More specifically, we think the lows for this bear market will likely arrive in the fourth quarter with 3400 the minimum downside and 3000 the low if a recession arrives . “Our ’22/‘23/’24 base case estimates are now 3 per cent/13 per cent/14 per cent below consensus, respectively. In our base case, 2023 now marks a modest earnings contraction , though we do not embed an economic recession in this scenario.

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S&P 500 to reach bear market low in fourth quarter: Morgan StanleyThe bear market for US equities is far from over if Morgan Stanley’s downgraded earnings forecast proves correct.
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S&P 500 to reach bear market low in fourth quarter: Morgan StanleyThe bear market for US equities is far from over if Morgan Stanley’s downgraded earnings forecast proves correct.
Source: FinancialReview - 🏆 2. / 90 Read more »