Morgan Stanley highlights services industries poised for growth amid new tariffs
Morgan Stanley suggests investors focus on services industries amid new tariffs. Chief investment officer Mike Wilson highlighted software, financials, consumer services, and media as sectors likely to benefit from recent trade policies. President Trump's tariffs on imports from Mexico, Canada, and China have caused US stock indexes to drop. However, he paused tariffs on Mexico and Canada after they agreed to border security measures. Wilson noted that services industries are also benefiting from AI advancements, with stocks in these sectors outperforming the broader market. The recent launch of DeepSeek's R1 chatbot has further increased interest in AI's potential for efficiency.