The S&P 500 will likely struggle to make more headway after rallying almost 14% so far this year as investors start to question the sustainability of the U.S. economy’s resilience, Morgan Stanley equity strategists said.
“While limited in downside magnitude, this recent price action is a change and suggests stocks may be starting to question the sustainability of the economic resiliency we experienced in the first half of the year,” said Wilson. Wilson also sees fading tailwinds from excess savings among consumers, which leaves consumer discretionary stocks vulnerable.
Barclays notes that consumers will likely deplete their savings made during the COVID-19 pandemic by January of February of next year.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »