Morgan Stanley Predicts Stock Market Drawdown, Says There’s ‘Not a Lot of Upside’ to S&P 500
A top executive at Morgan Stanley says the US stock market currently looks underwhelming, with limited upside for the rest of the year. In a new interview with CNBC, Andrew Slimmon, senior portfolio manager for Morgan Stanley’s Investment Management division, says he’s not expecting the S&P 500 to be “substantially above” the 6,000 mark any time soon. Says Slimmon, “My base case for the year has been it’s a pause year. We’ve had two great years in a row and the market needs kind of a timeout, or a breather....