Page 46 - Nalyst Note News Today

"We continue to believe that the US equity market is not priced for this slowdown in growth from current levels," Morgan Stanley's Mike Wilson said.

"If there's any good news, it's that as stock valuations go down and bond yields go up, the future outlook for a 60/40 [portfolio] improves," LPL said.

"Given the huge decline in stocks into this May FOMC, we think odds favor an outcome similar to the 5 rallies [and] stocks could bounce in May."

"Some tech names will be under the microscope for budget dollars... with clearly tougher times ahead," Wedbush said.

Bitcoin has "room for further downside in the months ahead," Fairlead Strategies' Katie Stockton said.

At a minimum, equity strategist Mike Wilson expects the S&P 500 to trade to 3,800 in the near-term, which represents a potential decline of 8%.

"Since average May-October returns are not negative, the strategy of 'sell in May and go away' leaves much to be desired," Bank of America said.

"Energy stocks are far from pricing in strong and sustainable outlooks for fundamentals and shareholder returns," JPMorgan said.

"Bottom line, if FANG is reasonably valued, not sure there is a case for stocks to have significant further downside," Tom Lee said.

To position for upside in the stock market, JPMorgan's Marko Kolanovic recommends investors take a barbell approach to their portfolio.