Morgan Stanley Analyzes S&P 500 Correction as Part of Bull Market
Morgan Stanley's equity strategist Michael Wilson argues that the S&P 500 has already reached the bottom of its correction range and is in the process of forming a new low within a bull market, not the start of a bear market. The S&P 500's forward P/E ratio has declined 18% since October, but Morgan Stanley does not see this as indicative of a recession or a tightening Fed, which are typically associated with such P/E compression.
Topics: Earnings Investor Sentiment Market Correction Morgan Stanley S&P 500