摩根士丹利：美伊局势缓和推动周期股轮动，美股涨势将进一步扩散

Odaily Planet Daily News Morgan Stanley strategists stated that the US stock market may receive an additional boost from a capital rotation into cyclical, economically sensitive sectors that underperformed during the Iran war. A team led by Michael Wilson pointed out that reports of increased traffic through the Strait of Hormuz, along with signs that the drag from interest rates, oil prices, and the US dollar on the stock market may be abating, could help undervalued stocks join the market leadership camp, which has previously been highly concentrated in high-growth tech stocks. The S&P 500 index is currently about 2% away from its all-time high.

Wilson stated that the recent correction in the US stock market was primarily led by a decline in memory chip stocks, driven by a slowdown in earnings momentum rather than fundamental deterioration. In a bull market driven by earnings growth, such a pullback after a period of strong gains is a common phenomenon. Wilson said, "There may be more volatility in the coming weeks, but our confidence in the current bull market remains intact." (Jinshi)