BlockBeats News, September 24th, Andrew Slimmon, Senior Portfolio Manager of the US Stock Department at Morgan Stanley Investment Management, said in a phone interview that the bull market in US stocks may only pause for the rest of this year, rather than experience a significant correction. “You have to stick with” the technology, financial, and industrial sectors. Although these cyclical stocks are somewhat overbought, their performance this year may still be outstanding, partly because the Fed just resumed its rate-cut cycle last week and there is currently no sign of a recession.
In his view, the Fed’s rate cut decision on September 17th was a “rate cut without a recession.” Slimmon said, historically, when the Fed resumes cutting rates after a pause and there is no sign of a recession, US stocks tend to rise. (FX678)
