Adam Parker the Chief Equity Strategist at Morgan Stanley says the GDP numbers are positive for equities. "To me the setup is good. Why sell U.S equities when bottom-up numbers are too low, the economy is improving and sentiment's not that ebullient? Sounds like a winner to me." You can have kind of a slow recovery, a slow retrenchment from the Fed, slow reflation and that could be a pretty positive backdrop for equities." However, Parker warns that not all sectors will be on an uptrend – pointing out Biotech and “roll-ups” as two areas that might be at risk. "I'm a little bit worried that you'll see some of the biotechs and roll-up names get sold as the rates rise. Biotech in particular has a lot more sensitivity to interest rates than maybe everyone realizes." (Source: Morgan Stanley, CNBC)