S&P 500 correcting 10% 'highly likely' says Morgan Stanley
Traders should prepare for a stock market correction due to uncertainties surrounding the US presidential campaign, corporate earnings, and Federal Reserve policy, Morgan Stanley's Mike Wilson said in an inteview with Bloomberg.
However, Wilson told Bloomberg that"your likelihood of upside from now until year-end is very low, much lower than normal." He placed the chances of stock prices closing the year higher than they are now at 20% to 25%. He believes that at the moment, the best way to play the stock market is through individual stocks rather than indexes, with the analyst and his team continuing to recommend high-quality growth names, and quality in general.
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