Firm’s strategists predicts gains if current levels hold in the short run
A rally in the S&P 500 in the fourth quarter of 2023 “is more likely than not,” Morgan Stanley’s Michael Wilson said in a note.
“Many are still leaning more long than they would like, to reduce the probability of missing out in a year in which narrow megacap strength has driven benchmarks,” they said, even as the confidence level may have waned a bit in the past week. Wilson, one of the most bearish voices of Wall Street, said the positive sentiment in the market was contingent on current stock prices holding in the short term.
The S&P 500 has rallied about 13% this year, boosted by the AI euphoria and expectations that the U.S. central bank will not raise interest rates further, but recent economic data and Fedspeak have turned the sentiment in the last one month.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Anime Product Maker Kayou Said to Tap CICC, Morgan Stanley for IPOKayou, a Chinese maker of gaming cards and stationery with animation themes, is considering an initial public offering in Hong Kong as soon as next year, according to people familiar with the matter.
Read more »
Big Tech’s Profit Machine Is Propping Up S&P 500 Earnings(Bloomberg) -- With the list of stock-market worries growing seemingly by the day, investors looking to earnings season for a dose of good news are hanging...
Read more »
Big Tech's Profit Machine Is Propping Up S&P 500 EarningsWith the list of stock-market worries growing seemingly by the day, investors looking to earnings season for a dose of good news are hanging their hopes on a…
Read more »
Big Tech's Profit Machine Is Propping Up S&P 500 EarningsWith the list of stock-market worries growing seemingly by the day, investors looking to earnings season for a dose of good news are hanging their hopes on a…
Read more »
UBS pushes out S&P 500 mid-2024 target forecast to year-endExplore stories from Atlantic Canada.
Read more »
UBS pushes out S&P 500 mid-2024 target forecast to year-endThe brokerage, in a note dated Oct. 13, said it now expects the benchmark index to hit 4,500 points by mid-2024, which implies an increase of about 4% from...
Read more »