The recent record levels in the U.S. stock market have punished those who expected equities to turn lower, but at least one prominent skeptic is standing by his call.
Michael Wilson, the chief U.S. equity strategist at Morgan Stanley, said that despite the recent records on Wall Street, there are ominous trends occurring under the surface of the major indexes. These cautious signals suggest there’s more potential for weakness than may be immediately apparent, given both the S&P 500 SPX, +0.77% and the Nasdaq Composite Index COMP, +0.91% closed at records on Monday.
