Morgan Stanley thinks investors should diversify into these markets
Look to Japan and European markets for investment opportunities, including the banking and defense sectors, Morgan Stanley said.

TL;DR
- Morgan Stanley suggests looking to Japanese and European markets for investment opportunities.
- The banking and defense sectors are highlighted as potential areas of growth.
- Upward revisions in earnings estimates are a key reason for the positive performance in these markets.
- Rising earnings revisions contribute to Morgan Stanley's optimistic outlook, even amidst concerns about U.S. market breadth.