Morgan Stanley's Investment Outlook for 2024: Bullish Opportunities and Growth Predictions

Morgan Stanley has raised its S&P 500 target to 4,500 for the end of 2024 and expects high-grade bonds to outperform, the dollar to stay strong, and emerging markets to lag. They anticipate rate cuts from the U.S. Federal Reserve and the European Central Bank in June next year, and believe that income investing will be favorable in 2024. They recommend a barbell approach of defensive growth and late-cycle cyclicals, with Japan being a preferred market. Their traditional defensive picks include Costco, US Foods, Walmart, Keurig Dr Pepper, and Philip Morris International.