This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Mike Wilson of Morgan Stanley says the US economy has already raced to the middle of a new cycle.
He says that means it s time to de-emphasize some stocks that soared as the economic recovery began.
Wilson suggests these trades as part of a reflation over reopening strategy for outperformance.
The COVID recession and rebound feel like they ve happened in dog years, with the economic and market crash, recovery, and new expansion occurring at unprecedented paces.
Morgan Stanley Chief US Equity Strategist and Chief Investment Officer Mike Wilson says the US economy is firmly in the middle of a new cycle that began only last year. The end isn t in sight, but he says it s time to move away from new-cycle and reopening trades that have played out.
Infrastructure is in the news again as Republicans and Democrats quibble over spending.
Raymond James strategists say they expect a $2-$3 trillion deal to be passed.
They identified 20 stocks they think will benefit the most from an infrastructure package.
Talks on a possible infrastructure deal are heating up again after President Joe Biden met with Republican and Democrat Congressional leaders in the Oval Office last week in an effort to gain bipartisan support for a potential package.
In February, Biden introduced the $2 trillion plan he aims to pass sometime this year. But Republicans have said they would support a smaller package, worth $568 billion. Dozens of Democrats in the House of Representatives said on Tuesday that they support a $7 trillion deal.