海外研报

Maintaining our S&P 500 target of 5400, rotation is where the action is

Neutral on index, bullish on internalsOur market timing signals have downshifted from bullish to neutral. In mid 2023, sentiment was deeply negative and our toolkit suggested that the direction of economic

Risk-reward still more favorable for cyclicals

Economics: The economy continues to defy its skepticsLast week, 2Q GDP surprised to the upside, signaling that even if the economy has slowed, it is still meeting its potential. This week, the focus will likely be on the Fed and

Summertime unwind?

Macro focus: Notwithstanding supportive fundamentals and burgeoning rate cuts across the EM complex, a more open US election is an ongoing source of EM

Argentina Oil & Gas Model Update

See page 14 for analyst certification and important disclosures, including non-US analyst disclosures.J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be

First Take: AMD, ANET, MSFT

Company posted a strong 3Q - backed by record Data Center revenues ($2.8b v, cons $2.75b) and strength in Clien($1.5b v, cons $1.43b). Positioning here was light, as it remains of the most controversial names in semis; after thepain of the past two

JPY: BoJ – still buy the rumour sell the fact?

Asia overnightInvestors are taking some risk off the table ahead of a very busy few days of central

Midday Market Intelligence: idiosyncratic

...drivers of the marketApproximately 40% of the S&P 500 is expected to report this week across allsectors making it the biggest and perhaps one of the most important weeks of

Mind the Sequencing; Adjustment Still on Track

Policy makers seem to be preparing the ground for a future FX unification. Although FX reserve accumulation will likely stall in

Weekly Warm-up: Our Take on the Recent Price Action

Key Developments to Watch As Earnings Season Progresses...Earnings revisions breadth for the overall market has started to trend lower as we

From the Global Director of Research | North America

A guiding principle at Morgan Stanley Research is to enhance your investment process by delivering unique insights that