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Rising interest rates roiled markets last year and global investment banking revenue sank more than 50% from a year-earlier quarter, according to data from analytics firm Dealogic. SHARPLY LOWERAcross the board, investment banking fees were sharply lower. Morgan Stanley's revenue from investment banking business fell 49% in the fourth quarter while Goldman Sachs's investment banking fees fell 48%. JPMorgan's investment banking unit saw its revenue down 57%, Citigroup Inc's (C.N) investment banking revenue plunged 58% while Bank of America Corp (BAC.N) investment banking fees more than halved. Strength in trading helped offset a slump in investment banking, while interest rate hikes by the U.S. Federal Reserve helped income.

☆ Watch CNBC's full interview with Mike Wilson of Morgan Stanley
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Mike Wilson of Morgan StanleyMike Wilson, Morgan Stanley chief U.S. equity strategist & chief investment officer, on what to expect from the markets in 2023. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.

☆ Earnings season will likely expose worrisome 'disconnect' in market, Morgan Stanley's Mike Wilson predicts
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings season will likely expose worrisome 'disconnect' in market, Morgan Stanley's Mike Wilson predictsMike Wilson, Morgan Stanley chief U.S. equity strategist & chief investment officer, on what to expect from the markets in 2023. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.

☆ Morgan Stanley COO Jon Pruzan to retire
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - Morgan Stanley Chief Operating Officer Jon Pruzan will retire from the bank at the end of the month, according to a memo seen by Reuters. Formerly the finance chief at the Wall Street titan, Pruzan was made COO as part of a leadership shakeup in mid-2021, which resulted in four new appointments. At the time, the bank's chief executive, Jamie Gorman, said he was "highly confident" one of the four would be the bank's CEO in the future. Investors have long been speculating about who would succeed Gorman, who joined the bank in 2006 and took over as CEO in 2010. With Pruzan gone, the list of potential successors to Gorman include co-presidents Ted Pick and Andy Saperstein and investment management chief Dan Simkowitz.

☆ A 33-year market vet shares why history shows stocks will likely fall more than 20% further before bottoming as a recession barrels toward the US economy
▼ + stars: | 2023-01-07 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

But Lebowitz thinks there's a much greater chance that a recession occurs, forcing the Fed to back off. And then there's the inverted yield curve, which has preceded every recession since the 1960s. RIA AdvisorsIt's also not a good environment for stocks because yield curve inversions have usually meant large downward earnings revisions, which haven't happened yet. RIA AdvisorsAnother look at history, Lebowitz said, shows that a recession has to be already underway before stocks can bottom out. The yield curve, Chicago PMI, and other analyses argue it's a matter of when but if a recession occurs.

☆ The worst earnings recession since 2008 could hit stocks next year, Morgan Stanley chief equity strategist Mike Wilson says
▼ + stars: | 2022-12-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks could be hit next year by the worst earnings recession since 2008, according to Morgan Stanley's Mike Wilson. "We're looking for an earnings recession that could be as big of a surprise to the market as it was in '08." An earnings recession is likely not priced into the market yet, Wilson said, warning investors of more downside to come. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThe worst earnings recession since 2008 could hit stocks next year, according to Morgan Stanley chief equity strategist Mike Wilson. "We're looking for an earnings recession that could be as big of a surprise to the market as it was in '08," Wilson said.

☆ Morgan Stanley's Mike Wilson says his S&P 500 call is more bearish than most, and explains why
▼ + stars: | 2022-12-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Morgan Stanley Chief U.S. Equity Strategist Mike Wilson, who accurately called this year′s sell-off, said the market has now "run out of steam" and reiterated his bearish bet on the S & P 500 . His year-end target for the S & P 500 was 3,900, compared with an average forecast of 4,023, according to a CNBC market strategist survey . But the market's next fall will be dictated by a decline in earnings, Wilson said. The investment bank expects earnings per share (EPS) for the S & P 500 index to fall to $195 by the end of next year. "As we have been highlighting for months, the part of our analysis we are most confident about is our well below consensus earnings forecast for next year," the analysts said.

Banks still have to mark the loan to its market value on their books and set aside funds for losses that are reported in quarterly results. The deliberations of how some of these banks are thinking about accounting for these losses have not been previously reported. Three banking industry sources said the remaining $3 billion, which is unsecured, could lead to steeper losses for the seven Twitter banks. Some market participants expect the losses from the debt to be significant unless market conditions improve. Some $35 billion to $40 billion of such loans are stuck on banks' books, according to two fixed income bankers.

☆ On the eve of the Fed’s decision, the case for stocks’ year-end strength is solidifying
▼ + stars: | 2022-12-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +4 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. Though after the late-day Monday levitation, with the Fed decision Wednesday and the nearby presence of the S & P 500 resistance line just overhead, the rally has backed off. Inflation declining from high levels has historically been a very positive dynamic for equity performance, and investors remain in a bit of a defensive stance, so the case for year-end strength is solidifying. Of course, there is the Fed decision to get through. The crowd is arguably over-extrapolating near-term recession and earnings-decline hazards in calling for a run toward or below the October S & P 500 lows before a round trip higher.

SHANGHAI/HONG KONG, Dec 9 (Reuters) - Investors caught off-guard by China's dramatic COVID policy pivot are betting on both greed and fear as the economy starts to gradually reopen, snapping up shares in businesses from travel agencies and casinos to funeral companies. Providers of death care services, including Hong Kong-listed Fu Shou Yuan International Group (1448.HK), China's biggest cemetery operator and funeral service provider, have also drawn investors. The positioning for both the bright and dark side of China's COVID pivot reflects growing concerns from investors surprised by the rapid policy change, especially as COVID vaccination rates among the elderly remain relatively low. "But we still think that the way China can flatten the curve of new COVID cases without doubling down on tightening looks quite challenging." Morgan Stanley Chief China economist Robin Xing said China's economy may remain sluggish for another quarter or two, but growth will pick up after Spring.

Central banks might make some progress toward their inflation targets by raising interest rates and managing demand, Morgan Stanley chief executive James Gorman said at the Reuters Next conference in New York. Central banks, by managing demand through interest rates, could probably "bring inflation down to around four percent. But he also nodded beyond the world's central banks to a needed supply-side solution to rising prices. So far, and particularly in the United States, the actions of central banks have not had an appreciable impact on core elements of the economy, particularly the job market. "I would be surprised if central banks officially moved the target, but they might decide to stay higher than it for some time."

☆ Markets in 2023 will face 'extreme volatility' as the economy navigates 1940s-style boom-bust inflation cycle, Morgan Stanley's Mike Wilson says
▼ + stars: | 2022-11-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Next year will see extreme volatility as the economy grapples with the boom-bust inflation cycle, Morgan Stanley's Mike Wilson said. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. He compared the current inflation cycle to the demand-driven inflation that took root in the economy after World War II. Sticky inflation spells trouble for the Federal Reserve, which has been scrambling to hike rates and rein in high prices. But it creates probably a lot more dispersion, quite frankly, across the stock market," Wilson said, warning investors of mixed corporate earnings results next year.

☆ Morgan Stanley strategist who nailed 2022 gives his outlook for the new year
▼ + stars: | 2022-11-14 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The stock market is likely to make new lows early in 2023 before building momentum in the second half of the year, according to Morgan Stanley chief U.S. equity strategist Mike Wilson. We remain highly convicted that 2023 bottom up consensus earnings are materially too high," Morgan Stanley said in a U.S. Equities Outlook for next year. The 2023 year-end target of 3,900 is less than 1% below where the S & P 500 closed on Friday. Once the market has come to grips with lower corporate earnings, stocks could then see a sustained rally, Wilson said. The strategist said investors should look to play defense in the near future as the recent market rally rolls over.

Traders work on the floor of the New York Stock Exchange (NYSE) on October 27, 2022 in New York City. Stocks continued their upward gains Thursday with the Dow rising nearly 400 points following a new GDP report that beat expectations. Stock futures were little changed on Tuesday evening as polls began to close in the United States midterm elections. Futures for the Dow Jones Industrial Average ticked up just 2 points, or less than 0.1%. S&P 500 futures added 0.1%, while Nasdaq 100 futures edged higher by 0.2%.

☆ Watch CNBC’s full interview with Morgan Stanley's Seth Carpenter
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Morgan Stanley's Seth CarpenterSeth Carpenter, Morgan Stanley chief global economist, joins 'Halftime Report' to discuss the Fed, the economy and what to expect from both next year.

☆ Fed seems willing to let economic slowdown stretch out over time, says Morgan Stanley's Seth Carpenter
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed seems willing to let economic slowdown stretch out over time, says Morgan Stanley's Seth CarpenterSeth Carpenter, Morgan Stanley chief global economist, joins 'Halftime Report' to discuss the Fed, the economy, and what to expect from both next year.

☆ The two words investors want to hear from Wednesday's Federal Reserve meeting
▼ + stars: | 2022-11-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

As markets look for signs that the Federal Reserve is stepping away from its breakneck pace of interest rate hikes, two words from this week's meeting could be crucial. No one is expecting the Fed to stop rate hikes, at least for several months. "The November FOMC meeting is not about the November policy rate decision. Instead, the meeting is about future policy rate guidance and what to expect in December and beyond." Even with the step-down hopes from Wednesday's meeting, market expectations are still for a fairly aggressive Fed.

☆ Watch CNBC’s full interview with Morgan Stanley's Mike Wilson
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Morgan Stanley's Mike WilsonMike Wilson, Morgan Stanley chief investment officer, joins the 'Halftime Report' to offer his technical rally call and market expectations for 2023.

☆ Bear market isn't over, but markets are unlikely to see new lows in 2023, says Morgan Stanley's Wilson
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBear market isn't over, but markets are unlikely to see new lows in 2023, says Morgan Stanley's WilsonMike Wilson, Morgan Stanley chief investment officer, joins the 'Halftime Report' to offer his technical rally call and market expectations for 2023.

☆ The Fed is about to 'downshift' and weaker earnings don't matter to stocks, says top Evercore strategist
▼ + stars: | 2022-11-01 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Julian Emanuel also told Bloomberg on Tuesday that earnings don't matter that much for stocks. "I don't want to call it 'pause' ... but we know the trajectory is gonna change, and the market is getting comfortable with that." "At the same time, just like the July earnings season, we know that the numbers are coming down," Emanuel said. "It didn't matter [for] stocks in July, and it doesn't matter now, because frankly people have been, for the most part, underinvested." That view contrasts with those of other Wall Street analysts, who have said earnings could lead stocks lower.

New car prices may finally start declining in the coming months — but don't expect to pay much less on a monthly basis due to higher interest rates. Thanks to stalling sales and a 17-month high in vehicle supplies, "deflation" may finally be arriving for new car prices, Jonas said. Power also predicted lower list prices could come in the coming quarters thanks to rising interest rates, higher vehicle availability and worsening economic conditions that are likely to affect overall demand. And the lower list prices would come at a time when interest rates to borrow for car purchases are at levels not seen in 15 years — nearly 6% on average. Analysts at auto group Edmunds.com also suggest customers think about settling for a larger monthly payment to avoid paying more overall.

☆ Once bond yields go down and the dollar peaks, you can form a bottom in equities, says Mike Wilson
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOnce bond yields go down and the dollar peaks, you can form a bottom in equities, says Mike WilsonMike Wilson, Morgan Stanley chief investment officer, and chief U.S. equity strategist, joins 'Squawk Box' to discuss Wilson's current take on inflation and how deep the earnings recession is likely to be.

☆ Dan Niles predicts when the S&P 500 might bottom, and reveals how he's profited this year
▼ + stars: | 2022-09-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Hedge fund manager Dan Niles has revealed his outlook for the S & P 500 after the Federal Reserve hiked rates by 75 basis points for the third consecutive time. The S & P 500 hit an all-time high of 4,797 in January this year and has fallen by more than 20% since then. "Our single point target is 3,000 on the S & P," he said, echoing Morgan Stanley Chief Investment Officer Mike Wilson's call earlier this year. Niles also warned that bear market rallies are also likely to occur as the S & P 500 falls to 3,600. The hedge fund manager had a stark, yet straightforward, message for investors: "There is nothing that is safe.

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