US Profit Recession Will Persist, Morgan Stanley’s Mike Wilson Says

Inflation decline to cut earnings, S&P 500 ends year at 3,900
Strategist sees some opportunities in energy, financial stocks

WATCH: Morgan Stanley Chief US Equity Strategist Mike Wilson says the “lousy” short-term risk-reward ratio returns he sees in equities and high prices will be the catalyst to end the current bull market. Source: Bloomberg

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By Alexandra Semenova and John McCorry

June 14, 2023 at 4:28 PM UTC

This article is for subscribers only.

Morgan Stanley’s Mike Wilson is reinforcing his status as Wall Street’s most-famous bear.

The bank’s top US equity strategist reiterated his year-end target of 3,900 on the S&P 500 Index Wednesday, warning in an interview with Bloomberg Surveillance that a profit recession is still underway. That level implies a nearly 11% drop from where the US stock gauge is currently trading.