A surprisingly good start for the U.S. stock market into the first-quarter earnings season poses a near-term headwind for equities given the pessimistic outlook on earnings growth and the Federal Reserve’s monetary policy, according to Morgan Stanley’s Michael Wilson.
The S&P 500 SPX had advanced nearly 4% in the three weeks leading up to the start of the first-quarter earnings season on April 10, according to Dow Jones Market Data. The large-cap index has then risen 0.5% in the following two weeks as the earnings season…
