Bloomberg Wall Street Week - May 19th, 2023
Wall Street Week
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Morgan Stanley CEO James Gorman Steps Down as CEO
President Biden has put the onus on Republicans, and Speaker McCarthy continues to point his finger at President Biden. Morgan Stanley CEO James Gorman surprised Wall Street by announcing to shareholders that he would be stepping down as CEO within the next 12 months. The S&P 500 added another 1.65%, taking it to 4191 - well above almost all of our Wall Street week elves' median call for year end.
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