Morgan Stanley Research(@MgnStnlyIdeas):When stocks rise, who really benefits? A surging stock market doesn't lift all households equally. Chief US Economist Michael Gapen and Heather Berger from the US Economics team unpack who gains the most, and what the uneven wealth effect means for consumer spending and the US economic outlook.

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Morgan Stanley Research@MgnStnlyIdeas

2026.10.08 18:00

When stocks rise, who really benefits? A surging stock market doesn't lift all households equally. Chief US Economist Michael Gapen and Heather Berger from the US Economics team unpack who gains the most, and what the uneven wealth effect means for consumer spending and the US economic outlook.