<p>Morgan Stanley stated that Friday's non-farm payroll report will be crucial in determining the direction of US stock market valuations. If it exceeds expectations, it may boost investor confidence. Strategists like Michael Wilson mentioned that if the non-farm payroll data is stronger than expected and the unemployment rate decreases, investors may believe that the risks to economic growth have diminished, supporting an increase in stock market valuations and helping lagging sectors catch up. They warned that if the non-farm data is weak and the unemployment rate rises further, it may reignite concerns about economic growth and, like in August, impact stock valuations</p>

<p>Morgan Stanley pointed out that the non-farm payroll report released on Friday will be an important factor in measuring the valuation of the US stock market. If the report results exceed expectations, it may boost investor confidence and support a stock market rebound; conversely, if the data is weak, it may trigger a new round of concerns about economic growth, affecting stock market performance</p>

Morgan Stanley: Non-farm payroll data will be a real test for US stocks