Investors should load up defensive sectors like consumer staples as macro data sends mixed signals about the economy, Morgan Stanley says

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• The latest macro data is sending mixed signals, reflecting both a "no landing" and a "soft landing," Morgan Stanley said. 
• The bank recommends defensive sectors, including consumer staples, to navigate volatility. 
• Analysts said the April CPI data on May 15 will be key in shaping the Fed and the market's next move. 

Investors should ramp up investments in defensive stock sectors like consumer staples and utilities as the latest data sends mixed signals about the economy...