(Bloomberg) -- A dimmer outlook for US corporate earnings is likely to hurt stocks that are tied to the economy, as investors worry about the impact of...
-- A dimmer outlook for US corporate earnings is likely to hurt stocks that are tied to the economy, as investors worry about the impact of falling inflation on pricing power , according to Morgan Stanley ’s Michael Wilson .The strategist — who was among the biggest bearish voices on US stocks last year — said that a gauge that measures profit upgrades versus downgrades has turned weaker, as is typical for this time of the year. That’s being driven primarily by so-called cyclical sectors.
The biggest technology stocks have also suffered in the latest selloff, with investors preferring smaller stocks that are cheaper. Morgan Stanley’s Wilson said he continued to recommend large-cap stocks, “though we are watching the fundamental and technical backdrop for small caps closely.” Female Infertility Market Analysis and Drug Forecast Report 2024: R&D Strategies Focused Largely on Improved Versions of Current Drugs
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