Morgan Stanley warns on headwinds for stocks including weaker earnings, cautious firms

<p>Via a note to clients from Morgan Stanley, Michael Wilson, the firm’s chief U.S. equity strategist has warned on headwinds for further progress on stocks, citing a combination of:</p><ul><li>weaker earnings revisions breadth</li><li>cautious corporate commentary</li><li>weaker leading survey data</li><li>a decelerating fiscal impulse</li></ul><p>Said these are negatives for earnings, and they'll likely persist into the new year, "before a durable recovery takes hold.”.</p><p>—</p><p>Stocks surged (again) on Friday, greatly helped by Powell speaking:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-no-pushback-from-powell-gold-hits-a-record-20231201/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: No pushback from Powell, gold hits a record</a></li></ul><p>US equity index futures trade begins for the week at the top of the hour.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.