Morgan Stanley Says Too Soon to Turn Bullish on Stocks
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Even as the S&P 500 on Friday narrowly avoided plunging into a bear market, Morgan Stanley strategists say it’s too early to turn optimistic on stocks.
“Equity clients are bearish, a necessary condition for a sustainable low, but an insufficient one,” strategists led by Michael Wilson wrote in a note on Monday. “Given the risks to growth are just emerging, it’s too early to get bullish.”