STOCK MARKET: Morgan Stanley says economy is on ‘recession watch’
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The stock market and economic outlook in the United States are “deteriorating,” according to an analysis from one of Wall Street’s top investment banks.
Renewed trade tensions and a slump in economic data — ranging from falling durable goods and capital spending to a downshift in the services sector — has put U.S. profits and economic growth at risk, Morgan Stanley warned Tuesday.
“Recent data points suggest US earnings and economic risk is greater than most investors may think,” wrote Michael Wilson, the firm’s chief U.S. equity strategist.
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