Both Morgan Stanley’s Michael J Wilson and Goldman’s David J Kostin expect corporate profit margins to contract next year given unrelenting cost pressures, they wrote in separate notes. According to Wilson, “the best part of the rally is over.”
Global Market Today: Asia stocks rebound from tech selloff, Kospi jumps
Asian markets saw a cautious rebound Wednesday after a significant tech-led global selloff, reigniting worries about the AI rally’s sustainability. South Korea’s Kospi surged, led