More Confidence in a Bull Market

Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, discusses recent macro events including the U.S.-China trade meeting and the October Fed meeting. He analyzes the market's response to these events, noting a positive reaction to trade developments and a modest consolidation in equities following the Fed's stance on interest rates and quantitative tightening. Wilson also highlights strong revenue surprises in the current earnings season, which supports his "rolling recovery" thesis, suggesting a new bull market began in April. He advises investors to maintain a focus on higher-quality assets until the Fed adopts a more dovish approach and to monitor funding markets for potential buying opportunities.