The stock market will continue to be on an upward trajectory in 2025, while the U.S. economy will outperform expectations, according to Morgan Stanley CEO Ted Pick.
During Thursday’s appearance at the Morgan Stanley summit in Singapore, Pick expressed optimism about the stock market and the strength of the corporate sector in the US.
“The world is still led by the U.S. consumer,” Pick said via CNBC. “Corporate balance sheets in the US are, on aggregate, terrific. And [the] new administration is talking about growth.”
Pick indicated that there still might be temporary negative trends next year but expects the overall momentum to be positive. He added that Morgan Stanley sees the S&P 500 rising further in 2025 on the back of looser regulations that could benefit financial and industry sectors.
The S&P 500 is 24.76% up for the year while temporarily crossing the 6,000 points mark earlier in November for the first time ever. Blue-chip Dow Jones Industrial Average is 15.10% up year-to-date, while the tech-heavy Nasdaq Composite gained 28.45% for the year.
Pick also discussed the Federal Reserve’s approach to cutting interest rates, saying that the policymakers did a “good job” with their cautious approach. The Fed slashed its borrowing rate by 50 basis points in September and followed it with a quarter percentage point cut in November.