Morgan Stanley’s Wilson Says US Stocks Can Rally in Short Term
- Strategist sees strong technical support for the S&P 500 Index
- Earnings capitulation, recession to trigger new declines: MS
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Morgan Stanley’s long-time equities bear says US stocks are ripe for a short-term rally in the absence of an earnings capitulation or an official recession.
A 25% slump in the S&P 500 this year has left it testing a “serious floor of support” at its 200-week moving average, which could lead to a technical recovery, strategist Michael J. Wilson wrote in a note on Monday.