Morgan Stanley's Slimmon says the S&P 500 will near 5,000 by year-end — and names 3 stocks to buy

Morgan Stanley Investment Management's Andrew Slimmon believes markets are set for a "strong rally" by the end of the year. He told CNBC's " Street Signs Asia " on Tuesday that he believes the S & P 500 will be "closer" to 5,000 by then. If it reaches 5,000, that's an upside of nearly 13% from Monday's close of 4,433.

And I hear all the time: 'why should I buy equities when I can get 5% in fixed income' and that that is certainly true," he said. But while 5% in money markets look attractive, it could get painful for investors who are under-allocated in stocks if markets rise 15% to 20%, Slimmon said. Stock picks Slimmon is positive on three stocks to buy right now: Alphabet , industrial equipment rental firm United Rentals , and building materials firm CRH .

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morgan Stanley names cash-rich global stocks with 'better downside protection'Morgan Stanley screened for European stocks with strong balance sheets, lots of cash or high shareholder returns. CNBC Pro takes a look at 20.
Source: CNBC - 🏆 12. / 72 Read more »

Morgan Stanley downgrades CrowdStrike ahead of earningsThe analyst lowered his price target to $167 from $178, which suggests the stock could still climb more than 11%.
Source: CNBC - 🏆 12. / 72 Read more »