Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.

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Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.

MarketWatch2021-09-08

'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...

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MIe
·2021-09-09
Continual trend & strategy of rebalance portfolio with active management + trim positions for profits #
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1
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JokerForever
·2021-09-08
Manage our risk..
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2
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- MickeyLiew:
  agree
  2021-09-08
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ThECROW
·2021-09-08
[弱]
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1
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MetalGuru
·2021-09-08
Imho, I think tech stocks have strong biz fundamantals currently, might not be exposed to such correction. EV/battery ones might be overpriced, thus exposed to PE correction in near term.
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JohnL
·2021-09-08
Great
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5
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Mb76
·2021-09-08
K
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- Kong06:
  Ok
  2021-09-08
  Reply
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CIG
·2021-09-08
Set stop loss and if price goes up, adjust to higher stop loss price. Then go to sleep.
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7
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- Mb76:
  K
  2021-09-08
  Reply
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- JohnL:
  Agree
  2021-09-08
  Reply
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KongSH
·2021-09-08
祝大家財源有如滔滔江水，連綿不絕??
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6
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MBE
·2021-09-08
Waiting for the correction to add shares. ?
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6
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ac1887
·2021-09-08
Good
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3
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vivo8787
·2021-09-08
Sell all my shares now even at a loss and wait till year end?
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11
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- vivo8787:
  Ok
  2021-10-15
  Reply
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- SR050321:
  Well done for the courage to do so ?
  2021-10-06
  Reply
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- Teslawonder:
  ok prepare warchest for xmas. pls like comment my other post
  2021-09-26
  Reply
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Sagu
·2021-09-08
When the interest rates shoot sky high, it’s goingto be very worrisome. How not to lose the faith that we have right now. We’re closing to year end I would say. 15% fall is kinda big dip. ???
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ckleesg
·2021-09-08
As market continues to climb, it will get exhausted at some point. It is not a question of whether it will fall but when. My take is in the next 3 - 6 months.
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- 东营天地人和:
  都已经涨了10年了，我相信下一个十年依然让人心情澎湃，向上趋势，依然不变
  2021-09-10
  Reply
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- 河东荷西:
  现在的情况是市场上的钱太多了，而股是刚好形成了一个蓄水池，所以半年内是不会有大幅的下跌
  2021-09-10
  Reply
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- 李苗苗:
  市场有涨有跌是正常表现，但是何时涨跌就很考验个人的判断了。时机不对，伤害还是很大的
  2021-09-09
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KYHBKO
·2021-09-08
it is possible for the market to correct by 15%. the market is due for correction said several bears. what the Fed wants is employment with interest rates, MBS and bonds being their tools. their objectives has always being to steer the economy towards optimal employment.any market correction can trigger the Fed to come in with stimulus again to avoid a spiralling collapse. market hangs on demand and supply and hopefully the recent earnings and guidance with reopening will be able to allay such concerns. but it can be wise to have some hedge with defensive stocks and cyclical ones. let's monitor closely and invest wisely.
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2
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Altera
·2021-09-08
Hmmmm
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Abbas99m
·2021-09-08
So sad
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bluem
·2021-09-08
Be alert all the time
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4
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koolgal
·2021-09-08
The markets are always volatile but if you diversify into different classes of assets in different countries the impact will be cushioned! ?
Reply
8
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psion
·2021-09-08
Like and comment pl
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- JeremyKok:
  hi. please like and comment back. thank you.
  2021-09-09
  Reply
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- psion:
  tks
  2021-09-09
  Reply
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meowmeow88
·2021-09-08
wake me when it does
Reply
3
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The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. 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Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":889175122,"gmtCreate":1631121797166,"gmtModify":1676530474533,"author":{"id":"3577182936341023","authorId":"3577182936341023","name":"MIe","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":0,"idStr":"3577182936341023","authorIdStr":"3577182936341023"},"htmlText":"Continual trend &amp; strategy&nbsp;of rebalance portfolio with active management +&nbsp;trim positions for profits #","listText":"Continual trend &amp; strategy&nbsp;of rebalance portfolio with active management +&nbsp;trim positions for profits #","text":"Continual trend & strategy of rebalance portfolio with active management + trim positions for profits #","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/889175122","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":889970227,"gmtCreate":1631107227469,"gmtModify":1676530469154,"author":{"id":"4089081450453300","authorId":"4089081450453300","name":"JokerForever","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4089081450453300","authorIdStr":"4089081450453300"},"htmlText":"Manage our risk..&nbsp;","listText":"Manage our risk..&nbsp;","text":"Manage our risk..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/889970227","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5794434,"gmtCreate":1631109204191,"gmtModify":1631887867906,"authorId":3571792373977202,"author":{"id":3571792373977202,"idStr":"3571792373977202","authorId":3571792373977202,"name":"MickeyLiew","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":889970227,"type":1,"supId":0,"prevId":0,"content":"agree","text":"agree","html":"agree"}],"langContent":"EN"},{"id":880787447,"gmtCreate":1631083181989,"gmtModify":1676530462665,"author":{"id":"3583650394724849","authorId":"3583650394724849","name":"ThECROW","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"idStr":"3583650394724849","authorIdStr":"3583650394724849"},"htmlText":"[弱]&nbsp;","listText":"[弱]&nbsp;","text":"[弱]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880787447","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":880714123,"gmtCreate":1631081653862,"gmtModify":1676530462408,"author":{"id":"3584964198158897","authorId":"3584964198158897","name":"MetalGuru","avatar":"https://static.tigerbbs.com/1f9af4319fe386d09474d76fe72e470a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3584964198158897","authorIdStr":"3584964198158897"},"htmlText":"Imho, I think tech stocks have strong biz fundamantals currently, might not be exposed to such correction. EV/battery&nbsp;ones might be overpriced, thus exposed to PE correction in near term.&nbsp;","listText":"Imho, I think tech stocks have strong biz fundamantals currently, might not be exposed to such correction. EV/battery&nbsp;ones might be overpriced, thus exposed to PE correction in near term.&nbsp;","text":"Imho, I think tech stocks have strong biz fundamantals currently, might not be exposed to such correction. EV/battery ones might be overpriced, thus exposed to PE correction in near term.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880714123","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880730803,"gmtCreate":1631079770702,"gmtModify":1676530461823,"author":{"id":"3570369418287680","authorId":"3570369418287680","name":"JohnL","avatar":"https://community-static.tradeup.com/news/20db2fa4f65cb04a8d837d400a1b5d7b","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3570369418287680","authorIdStr":"3570369418287680"},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880730803","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880477877,"gmtCreate":1631077376699,"gmtModify":1676530461351,"author":{"id":"4087701475296490","authorId":"4087701475296490","name":"Mb76","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087701475296490","authorIdStr":"4087701475296490"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880477877","repostId":2165368421,"repostType":2,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790323,"gmtCreate":1631078836130,"gmtModify":1663233548540,"authorId":3581903045598734,"author":{"id":3581903045598734,"idStr":"3581903045598734","authorId":3581903045598734,"name":"Kong06","avatar":"https://static.itradeup.com/news/5bf652419ffd9f97ce57f77494066d52","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880477877,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":880479699,"gmtCreate":1631076575011,"gmtModify":1676530461090,"author":{"id":"3583974841960176","authorId":"3583974841960176","name":"CIG","avatar":"https://static.tigerbbs.com/6c2077e2370e1ffcaca7e29b875be2be","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3583974841960176","authorIdStr":"3583974841960176"},"htmlText":"Set stop loss and if price goes up,&nbsp;adjust to higher stop loss price. Then go to sleep.","listText":"Set stop loss and if price goes up,&nbsp;adjust to higher stop loss price. Then go to sleep.","text":"Set stop loss and if price goes up, adjust to higher stop loss price. Then go to sleep.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/880479699","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790122,"gmtCreate":1631077384228,"gmtModify":1663233546546,"authorId":4087701475296490,"author":{"id":4087701475296490,"idStr":"4087701475296490","authorId":4087701475296490,"name":"Mb76","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880479699,"type":1,"supId":0,"prevId":0,"content":"K","text":"K","html":"K"},{"id":5790442,"gmtCreate":1631079763578,"gmtModify":1634805570779,"authorId":3570369418287680,"author":{"id":3570369418287680,"idStr":"3570369418287680","authorId":3570369418287680,"name":"JohnL","avatar":"https://community-static.tradeup.com/news/20db2fa4f65cb04a8d837d400a1b5d7b","vip":1,"currentWearingBadge":{"badgeId":"cbe1c45c584340f3bd9ae6c77e0e9981-1","templateUuid":"cbe1c45c584340f3bd9ae6c77e0e9981","name":"Academy Experiencer","description":"5 lessons learned","bigImgUrl":"https://community-static.tradeup.com/news/fb5ae275631fb96a92d475cdc85d2302","smallImgUrl":"https://community-static.tradeup.com/news/c2660a1935bd2105e97c9915619936c3","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.12.06","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2006},"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880479699,"type":1,"supId":0,"prevId":0,"content":"<u>Agree</u>","text":"<u>Agree</u>","html":"<u>Agree</u>"}],"langContent":"EN"},{"id":880470272,"gmtCreate":1631076494496,"gmtModify":1676530461052,"author":{"id":"4091169623174150","authorId":"4091169623174150","name":"KongSH","avatar":"https://static.tigerbbs.com/4db5a338d9f077992726659f508a7685","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4091169623174150","authorIdStr":"4091169623174150"},"htmlText":"祝大家財源有如滔滔江水，連綿不絕??","listText":"祝大家財源有如滔滔江水，連綿不絕??","text":"祝大家財源有如滔滔江水，連綿不絕??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880470272","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":880444072,"gmtCreate":1631076295196,"gmtModify":1676530460994,"author":{"id":"3586406638423368","authorId":"3586406638423368","name":"MBE","avatar":"https://static.tigerbbs.com/819dcae50fc62e5a41b7d625052bd116","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3586406638423368","authorIdStr":"3586406638423368"},"htmlText":"Waiting for the correction to add shares. ?","listText":"Waiting for the correction to add shares. ?","text":"Waiting for the correction to add shares. ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880444072","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880445133,"gmtCreate":1631076248222,"gmtModify":1676530460972,"author":{"id":"3585352116267703","authorId":"3585352116267703","name":"ac1887","avatar":"https://static.tigerbbs.com/a4f5865f79452e7da123e88ff35959e5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585352116267703","authorIdStr":"3585352116267703"},"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880445133","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880448660,"gmtCreate":1631076118350,"gmtModify":1676530460917,"author":{"id":"3581711485322302","authorId":"3581711485322302","name":"vivo8787","avatar":"https://static.tigerbbs.com/b863ab23ed789e4cdcd83c9777c2cbae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581711485322302","authorIdStr":"3581711485322302"},"htmlText":"Sell all my shares now even at a loss and wait till year end?","listText":"Sell all my shares now even at a loss and wait till year end?","text":"Sell all my shares now even at a loss and wait till year end?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/880448660","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6202226,"gmtCreate":1634254410647,"gmtModify":1663235386447,"authorId":3581711485322302,"author":{"id":3581711485322302,"idStr":"3581711485322302","authorId":3581711485322302,"name":"vivo8787","avatar":"https://static.tigerbbs.com/b863ab23ed789e4cdcd83c9777c2cbae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880448660,"type":1,"supId":0,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"},{"id":6105275,"gmtCreate":1633480693415,"gmtModify":1663234955932,"authorId":3577965120664925,"author":{"id":3577965120664925,"idStr":"3577965120664925","authorId":3577965120664925,"name":"SR050321","avatar":"https://community-static.tradeup.com/news/7a02781de36c0ac0f4851adb1cee54ff","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.07.18","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880448660,"type":1,"supId":0,"prevId":0,"content":"Well done for the courage to do so ?","text":"Well done for the courage to do so ?","html":"Well done for the courage to do so ?"},{"id":6001886,"gmtCreate":1632642074916,"gmtModify":1663234475459,"authorId":3574996021054734,"author":{"id":3574996021054734,"idStr":"3574996021054734","authorId":3574996021054734,"name":"Teslawonder","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880448660,"type":1,"supId":0,"prevId":0,"content":"ok prepare warchest for xmas. pls like comment my other post","text":"ok prepare warchest for xmas. pls like comment my other post","html":"ok prepare warchest for xmas. pls like comment my other post"},{"id":5886991,"gmtCreate":1631766055580,"gmtModify":1663233956552,"authorId":3573472992263411,"author":{"id":3573472992263411,"idStr":"3573472992263411","authorId":3573472992263411,"name":"Huathk","avatar":"https://static.tigerbbs.com/43c7168c646d9ea6805194ed0003f1cc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880448660,"type":1,"supId":0,"prevId":0,"content":"Gd","text":"Gd","html":"Gd"},{"id":5791283,"gmtCreate":1631088324738,"gmtModify":1663233556338,"authorId":3581757226955592,"author":{"id":3581757226955592,"idStr":"3581757226955592","authorId":3581757226955592,"name":"Cynthia8787","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880448660,"type":1,"supId":0,"prevId":0,"content":"<u>good</u>","text":"<u>good</u>","html":"<u>good</u>"}],"langContent":"EN"},{"id":880441227,"gmtCreate":1631075995469,"gmtModify":1676530460894,"author":{"id":"4091884668412330","authorId":"4091884668412330","name":"Sagu","avatar":"https://static.tigerbbs.com/3aaf50a784d504c2e98ff3a8e898a5b3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4091884668412330","authorIdStr":"4091884668412330"},"htmlText":"When the interest rates shoot sky high, it’s goingto be very worrisome.&nbsp;How not to lose the faith that&nbsp;we have right now. We’re closing to year end&nbsp;I would say. 15% fall is kinda big dip.&nbsp;???","listText":"When the interest rates shoot sky high, it’s goingto be very worrisome.&nbsp;How not to lose the faith that&nbsp;we have right now. We’re closing to year end&nbsp;I would say. 15% fall is kinda big dip.&nbsp;???","text":"When the interest rates shoot sky high, it’s goingto be very worrisome. How not to lose the faith that we have right now. We’re closing to year end I would say. 15% fall is kinda big dip. ???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880441227","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880443317,"gmtCreate":1631075919539,"gmtModify":1676530460847,"author":{"id":"3584683550329752","authorId":"3584683550329752","name":"ckleesg","avatar":"https://static.tigerbbs.com/4b8d5e762cc951df66bdca872a706848","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584683550329752","authorIdStr":"3584683550329752"},"htmlText":"As market continues to climb, it will get exhausted&nbsp;at some point. It is not a question of whether&nbsp;it will fall but when. My take is in the next 3 - 6 months.&nbsp;","listText":"As market continues to climb, it will get exhausted&nbsp;at some point. It is not a question of whether&nbsp;it will fall but when. My take is in the next 3 - 6 months.&nbsp;","text":"As market continues to climb, it will get exhausted at some point. It is not a question of whether it will fall but when. My take is in the next 3 - 6 months.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/880443317","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5812977,"gmtCreate":1631236495649,"gmtModify":1663233645667,"authorId":3479274789332061,"author":{"id":3479274789332061,"idStr":"3479274789332061","authorId":3479274789332061,"name":"东营天地人和","avatar":"https://static.laohu8.com/picture133","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880443317,"type":1,"supId":0,"prevId":0,"content":"都已经涨了10年了，我相信下一个十年依然让人心情澎湃，向上趋势，依然不变","text":"都已经涨了10年了，我相信下一个十年依然让人心情澎湃，向上趋势，依然不变","html":"都已经涨了10年了，我相信下一个十年依然让人心情澎湃，向上趋势，依然不变"},{"id":5812893,"gmtCreate":1631236212874,"gmtModify":1663233644245,"authorId":9000000000000148,"author":{"id":9000000000000148,"idStr":"9000000000000148","authorId":9000000000000148,"name":"河东荷西","avatar":"https://static.tigerbbs.com/448be2640dd5797560f74ee9b8c8fd00","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880443317,"type":1,"supId":0,"prevId":0,"content":"现在的情况是市场上的钱太多了，而股是刚好形成了一个蓄水池，所以半年内是不会有大幅的下跌","text":"现在的情况是市场上的钱太多了，而股是刚好形成了一个蓄水池，所以半年内是不会有大幅的下跌","html":"现在的情况是市场上的钱太多了，而股是刚好形成了一个蓄水池，所以半年内是不会有大幅的下跌"},{"id":5800520,"gmtCreate":1631151593915,"gmtModify":1663233591650,"authorId":3479274710327383,"author":{"id":3479274710327383,"idStr":"3479274710327383","authorId":3479274710327383,"name":"李苗苗","avatar":"https://static.laohu8.com/picture41","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880443317,"type":1,"supId":0,"prevId":0,"content":"市场有涨有跌是正常表现，但是何时涨跌就很考验个人的判断了。时机不对，伤害还是很大的","text":"市场有涨有跌是正常表现，但是何时涨跌就很考验个人的判断了。时机不对，伤害还是很大的","html":"市场有涨有跌是正常表现，但是何时涨跌就很考验个人的判断了。时机不对，伤害还是很大的"},{"id":5791196,"gmtCreate":1631087261012,"gmtModify":1663233551640,"authorId":3479274816899540,"author":{"id":3479274816899540,"idStr":"3479274816899540","authorId":3479274816899540,"name":"时空下流浪","avatar":"https://static.laohu8.com/picture188","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880443317,"type":1,"supId":0,"prevId":0,"content":"恁不看接下来的市场吗？是不是可以择机做空市场啊？","text":"恁不看接下来的市场吗？是不是可以择机做空市场啊？","html":"恁不看接下来的市场吗？是不是可以择机做空市场啊？"},{"id":5791205,"gmtCreate":1631087317709,"gmtModify":1663233551233,"authorId":3479274736231003,"author":{"id":3479274736231003,"idStr":"3479274736231003","authorId":3479274736231003,"name":"一池咸鱼","avatar":"https://static.laohu8.com/picture70","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880443317,"type":1,"supId":0,"prevId":0,"content":"感谢恁的分享，能不能给仔细说下逻辑？不看好未来的增长前景还是技术面啊","text":"感谢恁的分享，能不能给仔细说下逻辑？不看好未来的增长前景还是技术面啊","html":"感谢恁的分享，能不能给仔细说下逻辑？不看好未来的增长前景还是技术面啊"}],"langContent":"EN"},{"id":880440122,"gmtCreate":1631075695866,"gmtModify":1676530460810,"author":{"id":"3574381076586256","authorId":"3574381076586256","name":"KYHBKO","avatar":"https://static.tigerbbs.com/c3bcbc7f9a10836dea92afc94bf39b5b","vip":2,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574381076586256","authorIdStr":"3574381076586256"},"htmlText":"it is&nbsp;possible for the market to correct by 15%. the market is due for correction said several bears. what the Fed wants is employment with interest rates, MBS and bonds being their tools. their objectives has always being&nbsp;to steer the economy towards optimal employment.any market correction can trigger the Fed to come in with stimulus again to avoid a spiralling collapse. market hangs on demand and supply and hopefully the recent earnings and guidance with reopening will be able to allay such concerns. but it can be wise to have some hedge with defensive stocks and cyclical ones. let's monitor closely and invest wisely.&nbsp;","listText":"it is&nbsp;possible for the market to correct by 15%. the market is due for correction said several bears. what the Fed wants is employment with interest rates, MBS and bonds being their tools. their objectives has always being&nbsp;to steer the economy towards optimal employment.any market correction can trigger the Fed to come in with stimulus again to avoid a spiralling collapse. market hangs on demand and supply and hopefully the recent earnings and guidance with reopening will be able to allay such concerns. but it can be wise to have some hedge with defensive stocks and cyclical ones. let's monitor closely and invest wisely.&nbsp;","text":"it is possible for the market to correct by 15%. the market is due for correction said several bears. what the Fed wants is employment with interest rates, MBS and bonds being their tools. their objectives has always being to steer the economy towards optimal employment.any market correction can trigger the Fed to come in with stimulus again to avoid a spiralling collapse. market hangs on demand and supply and hopefully the recent earnings and guidance with reopening will be able to allay such concerns. but it can be wise to have some hedge with defensive stocks and cyclical ones. let's monitor closely and invest wisely.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880440122","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880454096,"gmtCreate":1631075514515,"gmtModify":1676530460745,"author":{"id":"4090406268906170","authorId":"4090406268906170","name":"Altera","avatar":"https://static.tigerbbs.com/d78fb5fffa813b663f88fe89f435a0e5","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4090406268906170","authorIdStr":"4090406268906170"},"htmlText":"Hmmmm","listText":"Hmmmm","text":"Hmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880454096","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880455737,"gmtCreate":1631075504129,"gmtModify":1676530460736,"author":{"id":"4091932914422900","authorId":"4091932914422900","name":"Abbas99m","avatar":"https://static.tigerbbs.com/a026254fe4800d31971dee7f5e269073","vip":1,"crmLevel":1,"crmLevelSwitch":1,"idStr":"4091932914422900","authorIdStr":"4091932914422900"},"htmlText":"So sad","listText":"So sad","text":"So sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880455737","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880452630,"gmtCreate":1631075413920,"gmtModify":1676530460712,"author":{"id":"3574847649995442","authorId":"3574847649995442","name":"bluem","avatar":"https://static.tigerbbs.com/9586aa4999245b11d8fe4bd7d34be55d","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":5,"crmLevelSwitch":0,"idStr":"3574847649995442","authorIdStr":"3574847649995442"},"htmlText":"Be alert all the time&nbsp;","listText":"Be alert all the time&nbsp;","text":"Be alert all the time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880452630","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880452923,"gmtCreate":1631075405662,"gmtModify":1676530460704,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":6,"crmLevelSwitch":1,"idStr":"3559581955535845","authorIdStr":"3559581955535845"},"htmlText":"The markets are always volatile but if you diversify into different classes of assets in different countries the impact will be cushioned! ?","listText":"The markets are always volatile but if you diversify into different classes of assets in different countries the impact will be cushioned! ?","text":"The markets are always volatile but if you diversify into different classes of assets in different countries the impact will be cushioned! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880452923","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880453179,"gmtCreate":1631074955691,"gmtModify":1676530460577,"author":{"id":"3581845985051272","authorId":"3581845985051272","name":"psion","avatar":"https://static.tigerbbs.com/ab2eccc9177a2c142fab5a37345bc343","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581845985051272","authorIdStr":"3581845985051272"},"htmlText":"Like and comment pl","listText":"Like and comment pl","text":"Like and comment pl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/880453179","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5797460,"gmtCreate":1631139512131,"gmtModify":1663233576943,"authorId":3567307840510045,"author":{"id":3567307840510045,"idStr":"3567307840510045","authorId":3567307840510045,"name":"JeremyKok","avatar":"https://static.tigerbbs.com/01b03a485f83b6b2615fad8ac9b87bf4","vip":1,"currentWearingBadge":{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1102},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880453179,"type":1,"supId":0,"prevId":0,"content":"hi. please like and comment back. thank you.","text":"hi. please like and comment back. thank you.","html":"hi. please like and comment back. thank you."},{"id":5805728,"gmtCreate":1631185680491,"gmtModify":1631891232236,"authorId":3581845985051272,"author":{"id":3581845985051272,"idStr":"3581845985051272","authorId":3581845985051272,"name":"psion","avatar":"https://static.tigerbbs.com/ab2eccc9177a2c142fab5a37345bc343","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880453179,"type":1,"supId":5797460,"prevId":0,"content":"<u>tks</u>","text":"<u>tks</u>","html":"<u>tks</u>"}],"langContent":"EN"},{"id":880453375,"gmtCreate":1631074935497,"gmtModify":1676530460559,"author":{"id":"4091674547333280","authorId":"4091674547333280","name":"meowmeow88","avatar":"https://static.tigerbbs.com/b9e0c95f88993b5f06fcd816677a1a2f","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"4091674547333280","authorIdStr":"4091674547333280"},"htmlText":"wake me when it does","listText":"wake me when it does","text":"wake me when it does","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880453375","repostId":2165368421,"repostType":4,"repost":{"id":"2165368421","pubTimestamp":1631060195,"share":"https://ttm.financial/m/news/2165368421?lang=&edition=fundamental","pubTime":"2021-09-08 08:16","market":"us","language":"en","title":"Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.","url":"https://stock-news.laohu8.com/highlight/detail?id=2165368421","media":"MarketWatch","summary":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management","content":"<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a01bf576907b812090131b9f0a817516\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Investors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.</span></p>\n<p>Morgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.</p>\n<p>\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.</p>\n<p>\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"</p>\n<p>She suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"</p>\n<p>Megatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3a39edba8046c13b53de255d846cd3a\" tg-width=\"699\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>A Morgan Stanley Wealth Management note from Sept. 7, 2021.</span></p>\n<p>\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"</p>\n<p>Although Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.</p>\n<p>The tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&amp;P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&amp;P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.</p>\n<p>Meanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.</p>\n<p>\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"</p>\n<p>Investors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.</p>\n<p>For example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.</p>\n<p>\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2165368421","content_text":"'Markets are priced for perfection and vulnerable,' says the CIO of Morgan Stanley Wealth Management\nInvestors appear to be putting their 'faith' in the Federal Reserve, says Morgan Stanley Wealth Management.\nMorgan Stanley's optimistic view of the economy isn't keeping it from warning about a looming correction in the U.S. stock market.\n\"The issue is that the markets are priced for perfection and vulnerable, especially since there hasn't been a correction greater than 10% since the March 2020 low,\" said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank's global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote.\n\"The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of 'climbing a wall of worry,'\" said Shalett. \"Consider taking profits in index funds,\" she said, as stock benchmarks have dismissed \"resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.\"\nShe suggested rebalancing investment portfolios toward \"high-quality cyclicals,\" particularly stocks in the financial sector, while seeking \"consistent dividend-payers in consumer services, consumer staples and health care.\"\nMegatech stocks have been defying the transition that stocks typically make mid-cycle, with their price-to-earnings ratios remaining elevated despite declining in other areas of the market, such as cyclical and small-cap stocks, the Morgan Stanley report shows.\nA Morgan Stanley Wealth Management note from Sept. 7, 2021.\n\"As business and market cycles move through recession, recovery, repair and on to expansion, interest rates typically begin to normalize and price/earnings (P/E) ratios compress as stock gains are increasingly powered by profit growth as opposed to policymakers,\" wrote Shalett. But dominant megacap tech leaders in the stock market have not followed that \"playbook.\"\nAlthough Morgan Stanley remains \"sanguine on the economic outlook,\" with Shalett citing \"solid prospects for capital expenditures and strengthening labor markets,\" the bank's global investment committee is increasingly worried about market valuations, according to her note.\nThe tech-laden Nasdaq Composite index ended Tuesday at another all-time closing high as the Dow Jones Industrial Average and the S&P 500 benchmarks for U.S. stocks retreated. The Dow, a blue-chip gauge of the U.S. stock market, and the S&P 500, an index that is top-heavy with tech exposure, remain near their recent peaks.\nMeanwhile, the yield on the 10-year Treasury note rose almost 5 basis points Tuesday to 1.37%, the highest since July 13, according to Dow Jones Market data. Bond yields and prices move in opposite directions.\n\"Real interest rates are finally grinding higher not only because Fed tapering is expected to officially commence by the end of the year, but as global economies rebound and 'safe haven' foreign liquidity moves out of overpriced U.S. Treasuries,\" Shalett said. \"Higher interest rates should pressure price/earnings multiples, which are already well above historic norms, especially when taking into account current levels of measured and realized inflation.\"\nInvestors appear to be putting their \"faith\" in the Federal Reserve, with its \"masterfully nuanced communications,\" to achieve its policy goals, according to Shalett. Fed Chair Jerome Powell \"has seemingly convinced investors that he and his policymaking colleagues are capable of delicately threading the policy needle without making mistakes,\" she wrote.\nFor example, markets appeared encouraged after the central bank reiterated its view at the Jackson Hole, Wyo., economic policy symposium in late August that inflation is temporary, the eventual tapering of its asset purchases is not policy tightening, and that \"actual rate hikes are tied to the very high bar of their new criteria of 'maximum' employment,\" according to Shalett.\n\"Both stock and bond investors cheered,\" she said, \"leaving asset bubbles and financial stability concerns be damned.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":251,"commentSize":41,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}