---
title: "Beware of inflation rising again! Morgan Stanley recommends reducing exposure to the \"Seven Giants\" and \"Trump Trades\" in U.S. stocks"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/222518464.md"
description: "Morgan Stanley Wealth Management advises investors to reduce exposure to large technology stocks and the \"Trump trade,\" as inflation is expected to rise next year, bringing downside risks. Chief Investment Officer Lisa Shalett pointed out that since the U.S. elections, the S&P 500 index has risen by 27%, but the market's optimistic expectations for the economy may normalize, leading to slower growth and profits falling short of expectations. She recommends that investors reduce risk through tax-loss harvesting and is optimistic about sectors such as finance, energy, and residential real estate"
datetime: "2024-12-17T06:59:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/222518464.md)
  - [en](https://longbridge.com/en/news/222518464.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/222518464.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/222518464.md) | [English](https://longbridge.com/en/news/222518464.md)


# Beware of inflation rising again! Morgan Stanley recommends reducing exposure to the "Seven Giants" and "Trump Trades" in U.S. stocks

According to the Zhitong Finance APP, Morgan Stanley Wealth Management advises investors to consider reducing their exposure to large tech stocks and the recently outperforming "Trump trades," as the firm believes these assets carry downside risks in the context of rising inflation next year.

Lisa Shalett, Chief Investment Officer at Morgan Stanley Wealth Management, stated that since the U.S. elections in November, the S&P 500 index has risen by 5%, accumulating a 27% increase this year, "driven by market excitement over the U.S. government's pro-growth policies." The "seven giants," including Tesla (TSLA.US), as well as some so-called "Trump trades" like Bitcoin, have surged ahead of Trump's return to the White House in January.

However, she noted that stock investors seem to believe that the U.S. economy "is essentially operating in a globalized, anti-inflation world." In a report on Monday, she stated, "However, we believe we may be in the midst of a significant regime change, with economic growth being reflationary," as the two key anti-inflation drivers, globalization and immigration, are fading.

The firm indicated that to gain some protection, investors should "consider eliminating large concentrations in the seven giants and other recently strong-performing 'Trump trades' through tax-loss harvesting. We believe that post-election optimism may normalize, growth will gradually slow to a soft landing, and profits will fall short of expectations, making bonds preferable to stocks on a risk-adjusted basis."

Shalett mentioned that stock investors and the Federal Reserve are dismissive of the renewed acceleration in inflation over the past three months, while stock analysts are lowering earnings expectations, and economists have halved their rate cut forecasts for 2025.

She pointed out, "Policy vitality may create new market leadership in 2025, making stock selection crucial."

Morgan Stanley Wealth Management is optimistic about the financial, energy, residential real estate sectors, and domestic-focused industrial and branded consumer goods manufacturers.

The report also noted that the healthcare sector "is currently oversold."

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