Morgan Stanley’s Wilson Sees Year-End Stock Rally as Unlikely
- Earnings remain at risk for most companies, Wilson says
- Bearish view unfolding as S&P 500 enters technical correction
The Federal Reserve building in Washington, DC.
Photographer: Valerie Plesch/BloombergThis article is for subscribers only.
Investors hoping for a boost to stocks by the end of the year will be disappointed, according to Morgan Stanley’s Michael Wilson.
“Chances of a fourth-quarter rally have fallen considerably,” said Wilson, who was once again named as the best portfolio strategist by the latest Institutional Investor survey. “Narrowing breadth, cautious factor leadership, falling earnings revisions and fading consumer and business confidence tell a different story than the consensus, which sees a rally into year-end.”