Apple Event: July Record and Andrew Sheets

apple event: Moving even further from record territory was the Nasdaq COMP, -0.22% though an Apple event coming later could re-energize the tech sector, according to Market Watch. Of course when it comes to new highs, it's worth considering they beget newer highs rather than trigger a selloff. The S&P 500 SPX, -0.07% finished slightly weaker, but 1.6% away from a July 26 record close on Monday. That brings us to our call of the day, from Andrew Sheets, chief cross-asset strategist at Morgan Stanley, who says the global economy may be poised for an upside surprise and investors aren't ready for it. Its admittedly a tough one to swallow but maybe China leads everything now-a-days https //t.co/oM7flw1ZBM Andreas Steno Larsen Andreas Steno September 10, 2019 In this scenario, yields and inflation expectations would rise meaningfully, as markets assume less easing is needed and better days lie ahead, he said. In a note to clients that published over the weekend, Sheets explores the possibility that his bank's below-consensus view on global growth could be wrong, and better days may be ahead if trade tensions thaw further, China offers more stimulus and global manufacturing woes start to bottom out. (news.financializer.com). As reported in the news.