Morgan Stanley Portfolio Manager’s View on Market

Description: Morgan Stanley portfolio manager, Andrew Slimmon, shares his optimistic outlook on the market, stating that investors are moving from fear to greed. He believes that the S&P 500 is poised for a breakout as investors recover from their whiplash and switch gears. Slimmon highlights the improving breadth in market gains as a bullish signal for the market. The S&P 500 is nearly back to its starting point for 2021, and the US economy has defied expectations for a recession while cooling inflation has allowed the Federal Reserve to signal a pivot to rate cuts next year. The latest AAII survey shows that market optimism has risen to its highest level in over two and a half years, with bearish sentiment at 20.9%.**