When a rebound rally comes, history says that technology stocks will outperform.The next several months are shaping up to be difficult for both stocks and the economy, according to Morgan Stanley's top strategists.
Even more troubling is that Morgan Stanley's US cycle indicator, which compiles several key macroeconomic data points, is flashing red for the first time since right before the pandemic.Other economic indicators, including the Conference Board's Leading Economic Indicator, are historically weak, according to Morgan Stanley, suggesting that a recession could be coming.
"We see a 1H '23 bear market low followed by a strong second half as equities broadly and the Tech sector look forward to better growth in '24 and more accommodative monetary policy," wrote Andrew Pauker, a strategist at Morgan Stanley, in a March 6 note.
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Stock market at risk as retail investors abandon 'buy the dip' strategyThe stock market is on weak footing as retail investors abandon the 'buy the dip' strategy and turn to higher yielding bonds
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