Mike Wilson Releases Market Outlook on the Stage of the U.S. Stock Correction
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Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist at Morgan Stanley, released a market outlook stating that the U.S. stock market correction that began in June has entered its late stage. The market still needs to digest three major clearing events: AI-related capital expenditures, uncertainty surrounding the midterm elections, and tightening liquidity. Market sentiment has not yet reached the extreme levels required for a durable bottom. He noted that if the S&P 500 Index declines further, the 7100–7200 range will be an important support level. He expects the semiconductor index to fall another 10% to 15% by mid-November. Currently, approximately 60% of Russell 3000 constituents have declined by more than 20% since June.
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Mike Wilson, Morgan Stanley's Chief Investment Officer and Chief U.S. Equity Strategist, believes the U.S. stock market correction that began in June has entered its late stage. He suggests the S&P 500 may still have unfinished adjustments, and if the index declines further, the 7100-7200 range will be an important support level. The market still needs to digest three major clearing events: AI-related capital expenditures, uncertainty surrounding the midterm elections, and tightening liquidity. Sentiment has not yet reached the extreme levels of a durable bottom.
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