Morgan Stanley's Andrew Slimmon says he believes stocks are going to do 'far better' than most expect this year.
Wall Street strategists expect this year to end on a much better note than 2022 — but they still warn that the path ahead looks volatile. Jeff Kleintop, chief global investment strategist at Charles Schwab, for instance, expects 2023 to be a "positive year" for investors, although he says the early months will be accompanied by "a lot of volatility" given concerns over the path of interest rates, recession, and China's reopening.
"The stock has been absolutely crushed for the same reason the homebuilders did in the second half of last year. So as the homebuilders rally, I think they will pull Pool Corp and other similar companies with them," he said. Fed pivot in the works His relatively positive read on the economy is a big reason for his optimism about the market.
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