Skelly: 'Market Is Now Bottoming'
A Morgan Stanley Wealth Management commentary titled 'Market is now bottoming' was posted April 13 and the headline captures a timing view that markets may be stabilizing. The piece was shared as a market‑timing perspective but contains the usual caveat that bottoms are often obvious only in hindsight (youtube.com).
Dan Skelly of Morgan Stanley Wealth Management said on April 13 that “the market is now bottoming,” arguing the recent selloff had started to stabilize as investors headed into earnings season. (cnbc.com) Skelly made the call on CNBC’s “Squawk Box” in an interview posted at 8:27 a.m. Eastern on Monday, April 13. CNBC identified him as head of market research and strategy at Morgan Stanley Wealth Management. (cnbc.com) By Tuesday’s close, the Standard and Poor’s 500 index stood at 6,967.38, up 1.18% on the day and within about 0.5% of its January 28 record high of 7,002.28. The Nasdaq Composite closed at 22,902.89 on April 10 and was back above 22,950 in Wednesday morning trading, while the Dow Jones Industrial Average closed Tuesday at 48,218.25. (cnbc.com) (marketsinsider.com) (yahoo.com) (marketsinsider.com) The backdrop changed quickly in the week before Skelly’s appearance. CNBC reported on April 10 that the Standard and Poor’s 500 had its best week since November even after a small Friday slip, and on April 13 said the index had erased its decline dating to the start of the Iran war. (cnbc.com 1) (cnbc.com 2) Inflation data also landed just before the call. The Bureau of Labor Statistics said on April 10 that the Consumer Price Index rose 0.9% in March and 3.3% from a year earlier, with gasoline up 21.2% for the month and accounting for nearly three quarters of the monthly increase. (bls.gov) That matters for any “bottoming” argument because stock investors were weighing two opposite forces at once: a sharp rebound in prices and a new inflation spike tied to energy. Morgan Stanley’s own 2026 outlook page, published in November 2025, had framed the year as one of “slower growth and inflation” alongside “a strong year for risk assets.” (morganstanley.com) (bls.gov) Skelly’s call also fits a broader Morgan Stanley message that the pullback looked buyable rather than structural. On March 9, Morgan Stanley’s “Thoughts on the Market” podcast said history, technicals and fundamentals suggested “a clearer runway” for United States stocks six months out despite geopolitical risks. (morganstanley.com) Other market signals were less tidy than a single television sound bite. On Wednesday morning, the Standard and Poor’s 500 was little changed, the Nasdaq was modestly higher, and the Dow was lower as traders reacted to fresh news on a United States blockade plan in the Strait of Hormuz. (yahoo.com 1) (yahoo.com 2) (yahoo.com 3) Skelly’s phrase was a timing view, not a dated market fact. The next test is whether earnings, inflation and Middle East headlines keep the rebound intact long enough for “bottoming” to look obvious in hindsight. (cnbc.com)
