Stock market news today September 14

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Morgan Stanley says industrial companies will dominate
the market going forward

Morgan Stanley is
the most bearish firm on Wall
Street right now when it comes to stocks.

Over the past few weeks, it has made no bones about what it calls
a “rolling bear market” — or the type of long, drawn-out pullback
that infects sectors one by one.

The firm has been particularly pointed in its comments about
tech, which has led major indexes to record highs but is now seen
by Morgan Stanley as vulnerable to a sharp
sell-off.

But this doesn’t necessarily mean the firm thinks all areas of
the stock market should be
off-limits. It just means investors need to take a deep breath
and look at industries that are depressed, underappreciated, or
both.

In the eyes of the equity strategists at Morgan Stanley, the
industrial sector fits this to a tee. The firm argues that
industrials possess the appealing combination of attractive
valuation and future profit upside.

Canadian cannabis companies are whipping around after
report says workers may face lifetime travel ban to US

Canadian cannabis companies were under pressure Friday morning,

down as much as 15%, following a report suggesting workers may
face a lifetime ban on travel to the US.

A Politico
report published after markets closed on
Thursday, citing a senior official overseeing US border
operations, said any Canadian working in the marijuana industry
would not be permitted to enter the US. “If you work for the
industry, that is grounds for inadmissibility,” Todd Owen, the
executive assistant commissioner for the US Customs and Border
Protection’s Office of Field Operations, told Politico.

Lehman Brothers collapsed 10 years ago — here are the 27 scariest
moments of the financial crisis

Eleven years ago, the US economy went into recession, the
US housing market crashed, and credit markets seized bringing the
banking industry to its knees. It was a global financial
crisis.

Businesses went down and workers lost jobs. And Americans were
losing hope, which only made things work.

For many, the low critical moment was when Lehman Brothers went
bankrupt on September 15, 2008. But the memory of critical events
before and after that fateful day is slowly fading. Hearings,
lawsuits, bailouts — it all gets muddled together.

Business Insider has outlined the major moments from 2007 to
2009. From the initial reports of subprime defaults to the
collapse of Lehman Brothers to AIG’s second bailout, here are the
27 scariest moments of the financial crisis.

In markets news