Morgan Stanley’s Wilson Sees US Stocks Outperforming Once Again
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A weaker dollar will improve the earnings outlook for US stocks, potentially turning around the massive rotation that’s been underway in global markets since start of the year, according to Morgan Stanley strategists including Michael Wilson.
The S&P 500 fell into a technical correction earlier his month as it declined more than 10% from February highs. While it has staged a modest bounce, it’s still down 3.6% for the year, compared with a gain of more than 8% for the pan-European Stoxx 600 equity index.