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Accelerating earnings are protecting the S&P 500 from deeper losses, strategists say.
Morgan Stanley strategists believe the S&P 500 is in the final phase of a correction.
KEY POINTS
- Forecasted S&P 500 earnings per share have dropped 18% from their October peak.
- Over half of Russell 3000 stocks are down at least 20% from recent highs.
- Morgan Stanley favors cyclicals and AI cloud service providers due to strong earnings and valuations.
COMPANIES
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