Top Wall Street analyst issues stark warning for stocks
Wall Street’s most-vocal bear sees a big correction for U.S. stocks coming, even as benchmarks continue to print records, but he sees the impending pullback as a chance to buy into the market’s next move forward.
Morgan Stanley’s chief investment officer, Mike Wilson, has maintained a largely bearish stance on markets for the past three years. He grudgingly lifted his S&P 500 price target to 5,400 points in the spring as inflation eased and the economy appeared headed toward a soft landing, avoiding recession.
https://finance.yahoo.com/news/top-wall-street-analyst-issues-123324714.html
Piper Sandler analysts are cautioning investors about a potential correction in the S&P 500, despite recent highs. Their note highlights a weakening market that could lead to a significant pullback.
In today’s note warning of a potential correction, Piper Sandler stated: “Deteriorating market breadth and narrowing leadership” are the key concerns.
This means that fewer stocks are participating in the rally, and investors are focusing on a limited group of high-performing companies. They argue that this undermines the sustainability of the current upswing.
Emons suggests investors use this moment to reduce concentration risk in your portfolio, or take some profits in a stock that has surged this year and as a result is weighted too heavily.
https://finance.yahoo.com/news/why-stocks-may-be-due-for-a-correction-134451541.html