Morgan Stanley(US:MS) Zhi Tong Cai Jing·2025-09-02 10:49Group 1 - Morgan Stanley's Chief U.S. Equity Strategist Michael Wilson predicts that the U.S. stock market will continue to rise after four consecutive months of gains, supported by the Federal Reserve's anticipated interest rate cuts and strong corporate earnings [1][3] - Wilson emphasizes that the U.S. economy is entering an "early cycle phase," characterized by ongoing nominal earnings growth and declining borrowing costs, indicating potential for small-cap stocks to catch up [1] - The S&P 500 index has surged to record highs since April, driven by optimism regarding the impact of U.S. trade tariffs and a renewed enthusiasm for artificial intelligence, with a near 90% probability of a Fed rate cut later this month [3] Group 2 - Evercore ISI's Chief Equity and Quantitative Strategist Julian Emanuel shares a positive outlook for the U.S. stock market, forecasting a potential 20% increase by the end of 2026, driven by the AI boom [4] - Emanuel projects the S&P 500 index to reach 7,750 points by the end of next year, representing a 20% increase from last Friday's close, and notes that the index has already risen nearly 10% this year [4] - Goldman Sachs reports that institutional investors remain cautious after two months of selling U.S. stocks, but their positions are still moderate compared to historical levels, suggesting limited downside risk without fundamental shocks [4]