TLT - Stocks Headed For A Major Leap Says Morgan Stanley Senior Portfolio Manager: 'You Have To Have Your Head In The Sand To Really Be Bearish' | Benzinga
After a tumultuous cycle in the markets, the S&P 500 is on the brink of a breakout as investor sentiment shifts, according to a senior portfolio manager.
What Happened: Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, has a bullish outlook for the market, Business Insider reported.
“If you look at history, it is an extraordinarily bullish signal for the market,” Slimmon told CNBC on Wednesday.
He added, “You have to have your head in the sand to really be bearish at this juncture. It means the market is breaking to the upside.”
The S&P 500 is merely 1% shy of its all-time closing high, thanks to a 24% surge this year. The U.S. economy has defied recession forecasts while easing inflation has permitted the Federal Reserve to hint at rate cuts in the coming year.
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This is a stark contrast to 2022, when the index plunged 20%, causing investors to adopt a defensive approach. However, as the year draws to ...