Former Morgan Stanley chief U.S. investment strategist Byron Wien remains an optimist and sees the stock market rising by the end of the year, he told CNBC Thursday.
"I don’t think we’re in a recession," said Wein, vice chairman of Blackstone Advisory Partners.
"We've had good news on initial unemployment claims, pretty good capital goods orders. I know earnings are going to be strong. Housing can’t get worse…It isn’t like you’re at a point where a lot of bubbles are about to burst. The bubbles have already burst. Things can get better because they can’t get worse."