Morgan Stanley’s Wilson: S&P 500 Pullback Near End, Year-End Rally May Be Building

Cointime reports: Morgan Stanley’s Michael Wilson said the S&P 500’s correction is likely nearing its end and the index may be setting up for a year-end rally. The benchmark is approaching its downside target range of 7,100-7,300 points and is expected to rebound from that level, Wilson wrote. Rather than wait for a perfect bottom, he recommended adding exposure to quality cyclical stocks over the coming weeks, citing significantly de-rated valuations and strong earnings per share.