Morgan Stanley: US stocks approaching bottom, bullish on cyclicals.

Morgan Stanley stated that the US stock market may have already hit bottom and advised to start increasing positions, especially optimistic about cyclical sectors and high-quality growth stocks. Strategists led by Michael Wilson wrote in a report: "We believe the S&P 500 index is building a bottom, and it is reasonable to start increasing positions in cyclical and high-quality growth assets at this time - these sectors have strong earnings, compressed valuations, and a bearish market sentiment." Their top sectors include finance, non-essential consumer goods, and mega-cap cloud computing technology companies.