"Rally in U.S. Stocks Over, Investors Seek New Story, Says Morgan Stanley"

Mike Wilson, chief investment strategist at Morgan Stanley, believes that a "new story" is needed to reignite investor excitement in stocks. Despite Nvidia's impressive earnings, the market failed to sustain a rally, signaling exhaustion. Wilson suggests that investors need to understand the long-term investment phase of artificial intelligence (AI) and not extrapolate its success to the broader market. He also notes that the market swung from being overly negative to overbought, and a new narrative is necessary to generate enthusiasm among investors.