Morgan Stanley: The correction in the U.S. stock market is nearing its end and may be building momentum for a year-end rebound

Michael Wilson of Morgan Stanley stated that the adjustment of the S&P 500 index may be nearing its end, and U.S. stocks may be building momentum for a year-end rebound.

Wilson indicated that this U.S. benchmark stock index is approaching its downside target range of 7,100-7,300 points and is expected to rebound from this range. Wilson wrote: "Rather than waiting for a perfect bottom, we recommend increasing exposure to quality cyclical stocks in the coming weeks, as these stocks have seen significant valuation adjustments while demonstrating strong earnings per share performance."