Winter of 'disconnect': Morgan Stanley's Mike Wilson braces for more than 20% stock drop
Publishing timestamp: 2023-01-11 00:36:29
Summary
Morgan Stanley's Mike Wilson is warning investors to brace for a 23% drop in the S&P 500, as earnings season is expected to kick off with results that are sharply below expectations. He believes the Federal Reserve won't be as reactive to the slowdown as they have been historically, and his S&P 500 year-end price target is the second lowest on the Street.
Sentiment: NEGATIVE
Keywords: financial select sector spdr fund, investment strategy, s&p 500 index, interest rates, coronavirus, covid-19, retail sales, jerome powell, wall street, inflation, monetary policy, consumer spending, personal debt, markets, recessions and depressions, stock markets, earnings, federal reserve bank, business news, technology, jobs, u.s. economy,