Morgan Stanley issues shock take on the stock market

The stock market’s been on a long, confident run since late 2022, but Morgan Stanley’s Andrew Slimmon feels we’re moving swiftly towards the final act. The tension he’s alluding to fits the tape perfectly. For perspective, the S&P 500 is up nearly 16% year to date, a gain that feels like a one-two punch combo fueling dip-buyers while reigniting FOMO across Wall Street. At the same time, the “Magnificent 7” keep doing the bulk of the heavy lifting, jumping 26% year to date, underscoring that AI demand an ...