Morgan Stanley’s top U.S. equity strategist Michael Wilson, one of Wall Street’s most prominent bears, is warming to the idea that the 2023 stock-market rally might have legs.
In a note shared with clients earlier this week, Wilson, who was one of only a handful of Wall Street strategists to anticipate 2022’s inflation-shock driven selloff, sketched out a scenario that could see U.S. stocks continue to climb. See: Morgan Stanley’s Mike Wilson admits ‘we were wrong’ about 2023 stock-market rally, but refuses to throw in the towel
Growth stocks like the Magnificent Seven megacap technology names are leading the way in 2023, just like they did in 2019. In fact, the composition of the 2023 appears eerily similar to 2019, Wilson and his team noted, offering up a chart showing how technology-led growth — then as now — was in the front of the pack while defensive sectors like consumer staples trailed.
Treasury bills with lifespans of just a few months are still offering some of the most attractive yields in two decades, with the six-month bill yield at 5.485% on Wednesday, according to FactSet data.
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.
Stocks are in a 'pivot rally' that can still go higher: Morgan StanleyStocks are in the middle of a 'pivot rally' that still has room to run, according to one of Wall Street's biggest bears
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
15 high-quality stocks to buy with healthy profits: Morgan StanleyMorgan Stanley: Buy these 15 high-quality stocks that will maintain stable profits during a volatile earnings season
Source: BusinessInsider - 🏆 729. / 51 Read more »
Meet Ted Pick, the 'deal junkie' who could be the next Morgan Stanley CEOMeet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
Source: BusinessInsider - 🏆 729. / 51 Read more »
9 top AI investments to buy now: BofA, Morgan Stanley, UBSHere are the 9 smartest ways to invest in artificial intelligence right now, according to Bank of America, Morgan Stanley, and UBS
Source: BusinessInsider - 🏆 729. / 51 Read more »
What's next for the housing market: 5 themes to watch, Morgan StanleyMorgan Stanley: These are the 5 key themes shaping the housing market for years to come, and the 5 stock-market industries filled with opportunities and pitfalls investors need to watch for
Source: BusinessInsider - 🏆 729. / 51 Read more »