Morgan Stanley Says Stock Market Pullback Is Nearing Its End

The signal here is less the call itself than its source: a major bank going on record that the equity pullback is close to running its course, without anchoring that view to any index level or figure. That absence makes the claim hard to test and easy to revise, which matters for anyone treating bank commentary as a market input. The open question is whether other sell-side houses converge on the same framing or stay split, since that dispersion, not the single call, is what would tell observers whether a broader narrative is forming.