Morgan Stanley strategist Edward Stanley identified what he believes are the 10 biggest themes in global markets for 2023. I’ll list all of the themes first before getting to those I find most relevant: ‘Earthshots’, the rise of India as a lucrative investing destination and upcoming obesity drugs.
The 10 themes outside of those three involve downward profit margin pressure, bloated developed world inventory levels creating deflationary pressure, accelerated profit growth for ESG companies, venture capital investment, China re-opening, Saudi Arabian socioeconomic restructuring, and artificial intelligence.
Earthshots is a term Morgan Stanley uses for the more than 50 public companies the firm has identified that have “game-changing sustainability technology.” Mr. Stanley describes the decarbonization process as of right now as lethargic, but he expects the pace to ramp higher.
The report lists cutting edge sustainability companies like Boston-based Ginkgo Bioworks, Codexis Inc., and Oxford Nanopore Technologies PLC from the U.K., along with existing companies he calls ‘enablers’ like Siemens AG, Sunrun Inc., and Occidental Petroleum Corp.
Where India is concerned, the strategist believes that a combination of services offshoring by the developed world, manufacturing investment, the energy transition and the country’s existing advanced digital infrastructure will make India the world’s third largest economy (currently fifth) and stock market (currently eighth) by the end of this decade.
Morgan Stanley expects that India will be responsible for 20 per cent of global GDP growth in the 2020s.
Mr. Stanley sees new obesity drugs from Novo Nortdisk and Eli Lilly with exponential sales growth thanks to social media. He notes that obesity drug Wegovy and diabetes treatment Ozempic are mentioned frequently on social media – particularly TikTok – and the medium’s fixation on fitness and health will help drive sales.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
