Morgan Stanley prefers Defensives on economic outlook concerns
Morgan Stanley strategists recommend investors consider quality and defensive investments over growth due to concerns about the economic outlook.
Last week’s weaker-than-expected employment report has added to the perception of a weakening labor trend.“In contrast, the micro data have been less resilient and are showing a more meaningful deterioration in growth, particularly in consumer services, where earnings revisions have recently broken down.”
Consumer confidence surveys, including those from the University of Michigan and the Conference Board, have also slowed, driven by declines in the current conditions component, which typically holds up better under economic pressure. “With our 12-month base case target multiple at 19x, the risk/reward for equities broadly remains unfavorable,” strategists said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley is out with its 'Top Stock Picks' list for EuropeMorgan Stanley is out with its 'Top Stock Picks' list for Europe
Read more »
Ex-Morgan Stanley VP raises $3.5 million pre-seed for algorithmic crypto trading platform Tread.fiTread.fi, an algorithmic crypto trading platform, has raised $3.5 million in a pre-seed funding round led by New Form Capital.
Read more »
S&P 500 correcting 10% 'highly likely' says Morgan StanleyS&P 500 correcting 10% 'highly likely' says Morgan Stanley
Read more »
Chief Morgan Stanley strategist predicts 10% market correction is 'highly likely' before presidential voteThe analyst warned investors on Monday of a “choppy” third quarter.
Read more »
Morgan Stanley names its 'highest conviction' stock picks for Europe, giving 4 more than 30% upsideMorgan Stanley says it's time for stock-picking in Europe as earnings season and rate cuts are imminent.
Read more »
Apple stock rises as Morgan Stanley names it Top Pick ahead of iPhone 16 launchApple stock rises as Morgan Stanley names it Top Pick ahead of iPhone 16 launch
Read more »