S&P 500 Index Forecast: Morgan Stanley Says US Stock Pullback Is Nearing an End, Focus on 7,500
TradingKey - At the close on Friday (October 16), the S&P 500 fell 1.09% to 7,659.44 points, down 1.95% for the week, primarily weighed down by a sell-off in AI-related tech stocks, rising financing costs, and a market reassessment of returns on AI capital expenditures. Heading into pre-market trading on October 19, US stocks rebounded, with S&P 500 futures rising by about 0.5% at one point. As the index approached 7,600 points again, Morgan Stanley's (MS) assessment that the current US stock market correction may be entering its late stage has drawn renewed attention.
TradingKeyMon, Oct 19