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Morgan Stanley on the market:

Don’t Expect a Rebound in the Market.

On August 27, in an interview with CNBC, Morgan Stanley’s Mike Wilson reiterated his earlier target of $2,750 for the S&P 500 Index (SPY) in 2019. That likely means investors shouldn’t expect any rebound in the stock market for the rest of the year. Wilson is the chief US equity strategist and chief investment officer at Morgan Stanley. On July 26, the S&P 500 Index made an all-time high of $3,027.98. From this level, the index has fallen around 159 points.

Morgan Stanley’s view:
On June 27, in a different interview with CNBC, Wilson said that a 10% correction was possible in the equity market. Since that day, the S&P 500 Index has fallen 1.9%. Compared to Morgan Stanley’s year-end price target of $2,750 for the S&P 500 Index, Wells Fargo and Goldman Sachs have targets of $3,088 and $3,100, respectively. Wilson said that an important reason for MS’s lower target is that it believes a trade resolution is unlikely to happen. For the quarter, Wilson expects the S&P 500 to hit $2,700.

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