Morgan Stanley says buy these 11 stocks to position for a Strait of Hormuz reopening and lower oil prices

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• Morgan Stanley says an easing of Strait of Hormuz gridlock is more likely than a recession.
• Their base-case outcome would see an easing of inflation threats and lower growth.
• Stock sectors set to win in this scenario include consumer discretionary, financials, and industrials.

There's been no shortage of warnings of doomsday recession scenarios surrounding the Strait of Hormuz closure. But as equity strategists at Morgan Stanley see it...