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A chorus of stock market prognosticators at some of Wall Street’s biggest firms is warning clients to prepare for a pullback as sky-high equity valuations slam into souring economic data. 
On Monday, Morgan Stanley, Deutsche Bank AG and Evercore ISI all cautioned that the S&P 500 Index is due for a near-term drop in the weeks and months ahead. The predictions come after a furious rally from April’s lows that propelled the gauge to levels it has never seen before.
Morgan Stanley strategist Mike Wilson sees a correction of up to 10% this quarter as tariffs hit consumers and corporate balance sheets. Evercore’s Julian Emanuel is expecting a more substantial decline of as much as 15%. And a team at Deutsche Bank led by Parag Thatte notes that a small drawdown in equities is overdue considering they’ve been on a tear for over three months.

Today's show features:
Bill Smead, Founder, Chairman and CIO of Smead Capital Management, on concentration risk in markets
Joyce Mullen, President and CEO of Insight Enterprises, on recent earnings and customers putting off new projects and saving for future investments in AI
Aaron Jagdfeld, Chairman, President and CEO of Generac, on earnings, the state of manufacturing in America, and US trade policy impact
Kate Gulliver, Chief Financial Officer of Wayfair, on quarterly earnings and the health of the American consumer

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. A chorus of stock market prognosticators at some of Wall Street&rsquo;s biggest firms is warning clients to prepare for a pullback as sky-high equity valuations slam into souring economic data.&nbsp; On Monday,&nbsp;Morgan Stanley,&nbsp;Deutsche Bank AG&nbsp;and&nbsp;Evercore ISI&nbsp;all cautioned that the&nbsp;S&amp;P 500 Index&nbsp;is due for a near-term drop in the weeks and months ahead. The predictions come after a furious rally from April&rsquo;s lows that propelled the gauge to levels it has never seen before. Morgan Stanley strategist&nbsp;Mike Wilson&nbsp;sees a correction of&nbsp;up to 10%&nbsp;this quarter as tariffs hit consumers and corporate balance sheets. Evercore&rsquo;s&nbsp;Julian Emanuel&nbsp;is expecting a more substantial decline of&nbsp;as much as 15%. And a team at Deutsche Bank led by&nbsp;Parag Thatte&nbsp;notes that a small drawdown in equities is overdue considering they&rsquo;ve been on a tear for over three months. Today's show features:
<ul>
<li>Bill Smead, Founder, Chairman and CIO of Smead Capital Management, on concentration risk in markets</li>
<li>Joyce Mullen, President and CEO of Insight Enterprises, on recent earnings and customers putting off new projects and saving for future investments in AI</li>
<li>Aaron Jagdfeld, Chairman, President and CEO of Generac, on earnings, the state of manufacturing in America, and US trade policy impact</li>
<li>Kate Gulliver, Chief Financial Officer of Wayfair, on quarterly earnings and the health of the American consumer</li>
</ul>

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Wall Street Is Warning Investors to Get Ready for Stocks to Drop

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