(Bloomberg) One of Wall Street’s most prominent bears has just turned positive on the outlook for US stocks.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteEbrahim Raisi, Iranian President Confronting West, Dies at 63Speedier Wall Street Trades Are Putting Global Finance On EdgeSaudi Crown Prince Postpones Japan Trip Over King’s HealthChina’s Housing Rescue Too Small to End Crisis, Analysts SayMorgan Stanley’s Michael Wilson now sees the S&P 500 rising 2%
The Morgan Stanley strategist recommends a barbell approach of quality cyclicals stocks and quality growth and maintains a long exposure to certain defensive areas such as consumer staples and utilities