U.S.-China Mini Trade Deal Is Priced In, Says Morgan Stanley’s Garner

The transcript discusses the potential impacts of a phase one trade deal, focusing on its effects on tariffs and policy stimulus. It highlights the recent performance of emerging markets in Asia, particularly the hardware sector, and provides predictions for future earnings growth. The discussion also touches on the challenges of market valuations and the potential for a significant earnings growth next year.

What was the expected tactical upside mentioned in the discussion about the phase one trade deal?

• 20%

• 15%

• 5%

• 10%

Which sector is starting to see significant earnings beats according to the discussion?

• Pharmaceutical

• Automobile

• Retail

• Hardware

Which company's performance was highlighted in relation to trade tensions?

• Sony

• TSMC

• Intel

• Samsung

What is the market consensus for earnings growth next year?

• 12%

• 14%

• 10%

• 8%

What is a concern for the markets despite the potential for earnings growth?

• High inflation rates

• Currency fluctuations

• High forward P/E ratios

• Political instability