Morgan Stanley: Another market storm is coming
New York (CNN Business)Enjoy the market calm for now. Morgan Stanley thinks another storm is coming.
The S&P 500 will soon suffer a retest of the lows from Christmas Eve because of shrinking earnings estimates and mounting economic concerns, the investment bank warned in a Monday report titled “Don’t fear a potential recession; Embrace it.”
“Should the hard data deteriorate further, as we expect, we think the market will quickly return to pricing in a recession and rate cuts,” wrote Michael Wilson, Morgan Stanley’s chief US equity strategist.
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