Morgan Stanley: Exit Defensives, Embrace Megacaps
@WallStreet_Tiger：
Morgan Stanley recently advised equity investors to ditch their defensive stance and pivot towards large-cap companies with solid earnings and growth prospects, including some members of the "Mag 7."Defensive stocks have been on a roll lately. However, Michael J. Wilson, Morgan Stanley's equity strategist, noted that their valuations have soared, justifying a profit-taking move ahead of the next labor report. Strategically, the bank's stance on defensives versus cyclicals shifts to neutral.Defensive stocks typically shine during recessions, offering essentials and services consumers still need in tough times. Think utilities, healthcare, and consumer staples. The US Bureau of Labor Statistics will release the next jobs report on October 4th, potentially shedding light on whether the US eco