Morgan Stanley’s Wilson says stocks are in a ‘rolling-type correction.’ Here’s what he would own

Mike Wilson, Chief U.S. Equity Strategist and Chief Investment Officer at Morgan Stanley.
Adam Jeffery | CNBC

Morgan Stanley's Mike Wilson expects the S&P 500 to finish the year lower than where it's currently sitting, but he stressed Monday on CNBC that there are still opportunities for investors to find upside.

"It's a bull market. There's always something to buy and own," the firm's chief U.S. equity strategist said in an interview on "Closing Bell."

Wilson described the market as being in a "rolling-type correction" that has so far hit high-multiple growth stocks, as well as small caps. "My guess is it's going to rotate now into some of the reopening stocks that have really run up," he said, suggesting that includes retail, consumer discretionary and, possibly, homebuilders.