- Stocks are trading more independently of macro factors than at any point since 2001, according to Morgan Stanley.
- These types of market conditions are ideal for stock pickers, who make their living analyzing company fundamentals and betting on single stocks.
Stocks are partying like it’s 2001.
They’re trading independently of one another to a degree not seen since the height of the tech bubble, according to a study conducted by Morgan Stanley. And they’ve been operating with a mind of their own for months now, bucking a trend that’s historically seen them trade more in lockstep in response to geopolitical and macroeconomic developments.