Via a note on Monday from Morgan Stanley strategsit Mike Wilson:
- is expecting to see further choppy performance from equities through to the end of the year
- stocks could move lower this week, but while the pullback could be followed by a boun ce he sees the index lower into year end
- “Based on our views on earnings, valuations and policy (both monetary and fiscal), we believe the S&P 500 will have a hard time getting back above what were previously levels of support (i.e., 4300-4400) tactically”
- “Based on our fundamental and technical analysis, we remain comfortable with our 3900 year-end target”