With U.S. stocks on pace for their first loss in May since 2012, the next few months are shaping up to be a rocky time for the market. But as the U.S. marks the unofficial beginning of the summer this week, there are still plenty of stocks that promise to sizzle in an otherwise bleak landscape dominated by trade-war turmoil.
As the table below shows, Cooper Cos. COO, -1.59% ranked second with a median gain of 12.1%, followed by Alexion Pharmaceuticals Inc. ALXN, -1.69% and Nvidia Corp. NVDA, -1.25% Amazon.com Inc. AMZN, +0.72% came in at no 10 with a median gain of 8.9%. Mike Wilson, chief equity strategist at Morgan Stanley, warned that corporate earnings and economic risks are much greater than most people expect with recent economic data, including durable goods and capital spending, coming in soft.
Wilson, who tends to strike a cautious tone even during the market’s most ebullient moments, believes that a dramatic detente between the U.S. and China won’t be enough to save stocks.As things stand, a trade deal between the two economic superpowers appears as elusive as ever. China has responded to the U.S.’s tough stance with similar belligerence, framing the trade war as an attack on the country and whipping up nationalism as it attempts to unite a more dynamic and an increasingly affluent population behind the government’s agenda.