Stocks are in a 'pivot rally' that can still go higher: Morgan Stanley

Stocks are partying like its 2019 thanks to the Fed, and they could still run higher, according to one of Wall Street's most prominent bears.

"The data we have today suggests to us that we are in a policy-driven, late-cycle rally," Wilson wrote. Currently, stocks are climbing against a still-supportive global liquidity backdrop, the strategist said, and investors are optimistic that falling inflation will justify loosening monetary policy. On Friday, the Personal Consumption Expenditures price index, the Fed's preferred inflation gauge, saw its slowest increase in two years.

"The 2019 analogy, in and of itself, suggests more index level upside from here," Wilson said."Though we'd note that the Fed was already cutting rates for a good portion of 2019, and the market multiple is already close to 1 turn higher than where it peaked during that period.". He pointed to a resilient economy and promising earnings as fuel for the rally. on Friday.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea CulpaLast year’s plunge in the S&P 500 made uber bear Mike Wilson the most celebrated stock forecaster on Wall Street. It’s a role he has failed to reprise in 2023.
La source: markets - 🏆 324. / 59 Lire la suite »

Top Wall Street analysts are upbeat about these dividend stocksTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including IBM and Morgan Stanley.
La source: CNBC - 🏆 12. / 72 Lire la suite »

38 stocks to buy for strong earnings growth: Morgan StanleyMorgan Stanley: Buy these 38 stocks that will increase their profits during another better-than-feared earnings season
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

11 stocks that can survive lower inflation: Morgan StanleyMorgan Stanley: Lower inflation has an unusual downside for companies reporting earnings right now, but these 11 stocks will be able to survive and thrive
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Morgan Stanley's Slimmon names top tech stocks to buy after earnings seasonMorgan Stanley's Andrew Slimmon said there are reasons to be a 'little cautious' coming out of the busiest week for earnings.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Morgan Stanley says these 5 stocks are ways to play the green housing marketEnvironmentally friendly residential home products may be gaining favor among consumers.
La source: CNBC - 🏆 12. / 72 Lire la suite »