John Deere combine harvesters sit on display during the Farm Progress Show in Boone, Iowa, U.S., on Tuesday, Aug. 28, 2018.The recent pullback in stocks has paved the way for certain names to start their outperformance, creating a timely opportunity for stock pickers, according to Morgan Stanley.
While the major averages have recovered most of their coronavirus related losses, not every stock has participated in the epic rebound. Morgan Stanley believes it found five buy-rated stocks that haven't caught up to the rest of the market. "Cyclicals are dominating, right in line with our Recession Playbook. Nevertheless, the breadth is not as robust as what we experienced in 2009 which was one of our concerns back in August," Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. "We think the recent correction is the beginning of the correction we thought would come last month but will ultimately lead to expanding breadth once it's over.
The major averages have clawed back from the depths of the coronavirus market rout in rapid fashion. The Nasdaq Composite — the first index to rebound to new highs — is up more than 68% from its March low. The S&P 500 also reached a new all time high this month, up 55% since March. The Dow is still down slightly for the year. While markets have experienced the stunning snap-back, the past two weeks have seen a pullback.
"We are overweight Industrials as part of our broader pro-cyclical tilt as relative performance hasn't caught up to a number of key indicators," Morgan Stanley chief U.S. equity strategist Mike Wilson told clients.Related Tags
Pro Deere was pretty much a straight line up for most of August, and is at all time highs, what are these experts talking about?
Pro The Toddler in Chief is going to have another super spreader rally in Wisconsin on the day that the state posted its highest recorded confirmed covid -19 cases of 2307 He should be arrested for murder if anyone dies from getting infected traced to this rally
Pro Are you NEW to FOREX? Minimize your losses with my expert strategy with an investment capital of $1000, i can guarantee $9,500 as profits after 5 days of investment. Inbox me if interested.
Pro Apple, walmart, KOS, CPE, OXY
Pro Fire cramer. Can't stand that loud mouth bozo the clown on cnbc. BOILER-ROOM cramer and his portfolio. Please fire cramer, does cnbc great dis-service. Ego centric clown. Should have been fired ages ago. Always annoying Cramer. FireCramer
Pro anybody have this info ? Subscribers
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »