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Morgan Stanley Says US Stocks Aren’t Pricing Weak Data

  • Survey indicators point to earnings recession ahead: Wilson
  • Point of reckoning could come during the current quarter
Bloomberg business news
October Lows Will Be Retested: Morgan Stanley's Wilson
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Morgan Stanley strategist Michael Wilson expects a stock-market rally in 2024 following a challenging 2023 as the US economy suffers through an earnings recession.

“As bearish as we are on earnings in the near-term, we actually are probably more bullish than most in 2024 because we think we are in this boom-bust-boom environment,” Wilson said in an interview on Bloomberg TV. “If you agree with our earnings call next year then you almost have to agree with our earnings call this year and the market won’t look through that.”