Morgan Stanley says glum profit view to dent economy-tied stocks

Manhattan --

“In our view, this does not offer support for a broad cyclical rotation,” Wilson said, adding that the market was “also potentially focused on the notion that falling inflation may prove to be a headwind for cyclicals, which are highly dependent on pricing power.” A Citigroup Inc. basket shows earnings downgrades have broadly outnumbered upgrades since late June. Meanwhile, cyclical stocks in the S&P 500 have underperformed the relatively safer defensive sectors since April.

“For now, we continue to think the better risk/reward within small caps is growth equities, which should benefit from a cost of capital standpoint as the Fed cuts” rates, Wilson said.

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Morgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’Traders should brace for a correction in the stock market as uncertainty swirls around the US presidential campaign, corporate earnings and Federal Reserve policy, according to Morgan Stanley’s Mike Wilson.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »

Morgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’(Bloomberg) -- Traders should brace for a significant pullback in the stock market as uncertainty swirls around the US presidential campaign, corporate...
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