Morgan Stanley CIO Touts 32 Stock Picks, Urges Caution on Premature Fed Pivot
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Morgan Stanley CIO Michael Wilson believes the market's current euphoria is justified, but cautions that 2024 will be a stock-picker's market.
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He identified 32 stocks with strong earnings growth, free cash flow yield, and overweight analyst ratings to invest in.
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The stocks span 11 sectors, including communication services, consumer discretionary, energy, healthcare, industrials, tech, and utilities.
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Wilson thinks the Fed's imminent policy pivot is sensible given the latest inflation data, but worries it may be premature.
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With uncertainty ahead, he advises picking quality stocks with upside based on growth and cash flow rather than broader market sentiment.