Morgan Stanley’s Wilson Says Broader Layoffs Would Be Bull Sign for Stocks
- ‘Reality is there are too many’ tech companies now, he says
- ‘US equities are nearing the bottom of the bear market’
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Morgan Stanley’s Michael Wilson says companies will need to aggressively bring down expenses before he becomes more optimistic on US equities.
“When that layoff cycle picks up in earnest that will actually be one of the keys for us to get bullish because that means the bleeding will stop on the operating leverage,” the top-rated strategist told Bloomberg TV on Monday.