The odds of a fourth-quarter rally for the S & P 500 are coming down as higher rates and slower growth pressure equities, according to Morgan Stanley's Mike Wilson.
The S & P 500 approached its 200-day moving average — around 4,224 — earlier this month.
.SPX YTD bar SPX in 2023 Wilson now forecasts the S & P 500 to fall to 3,900 by the end of 2023.
According to the CNBC Market Strategist Survey , the average 2023 target for the S & P 500 is at 4,392, with the median target even higher at 4,500.
Sean Simonds of UBS is the only other top strategist who forecasts the S & P 500 pulling back to 3,900.
Persons:
Morgan Stanley's Mike Wilson, Wilson, Stocks, SPX, Sean Simonds, Oppenheimer's John Stoltzfus, — CNBC's Michael Bloom
Organizations:
Federal, CNBC Market, Survey, UBS