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Morgan Stanley: Momentum stocks recover
Morgan Stanley Bank predicted a recovery in momentum-based equity strategies after a sharp wave of declines, as market leaders are shifting their focus from semiconductor stocks to sectors with strong profits. Analyst Michael Wilson pointed to a trend toward high-quality stocks, particularly in the insurance and healthcare sectors, as a means to attract liquidity, despite the Goldman Sachs momentum index dropping 35% since June, with its gains remaining at 9.4% since the beginning of the year.
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