Date updated:01-09-2008
A string of Wall Street firms are now coming out and warning investors that a recession and correction for the stock market might be in the cards. Morgan Stanley issued its 2008 outlook report titled "There Will Be Blood" which highlighted stocks to own or sell in the event of a recession.

-
BBY
Best Buy Co Inc - $29.55
- -5.44%
- $30.77
In the event of a recession Morgan Stanley suggests investors be short Best Buy (BBY) and Caterpillar (CAT). Jeff Macke explained he wouldn't short Best Buy, instead he would just walk away from the stock.

-
CAT
Caterpillar Inc - $43.67
- -4.65%
- $45.22
In the event of a recession Morgan Stanley suggests investors be short Best Buy (BBY) and Caterpillar (CAT). Guy Adami also likes Phillip Morris, but he wouldn't short Caterpillar.

-
KO
Coca Cola Co The - $44.93
- +0.49%
- $44.22
Morgan says be long Coke (KO) and Phillip Morris (MO). Najarian recommends owning Cokes, smokes, drugs and McDonald's.

-
MO
Altria Group Inc - $15.09
- -0.40%
- $15.07
Morgan says be long Coke (KO) and Phillip Morris (MO). Finerman loves Phillip Morris and she agrees with Morgan. Guy Adami also likes Phillip Morris, but he wouldn't short Caterpillar.

-
MCD
Mcdonalds Cp - $61.24
- -1.45%
- $61.93
Najarian recommends owning Cokes, smokes, drugs and McDonald's.
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