Core Viewpoint - Morgan Stanley strategist Michael Wilson predicts that U.S. stocks will continue to rise after four consecutive months of gains, supported by the Federal Reserve's impending interest rate cuts and strong corporate earnings [1] Group 1: Economic Outlook - The economy is entering an "early cycle phase," characterized by sustained nominal earnings growth and declining borrowing costs [1] - There is a suggestion that small-cap stocks and other interest rate-sensitive stocks have underperformed, indicating potential for a rebound [1] Group 2: Market Sentiment - Wilson opposes the view that "rate cut expectations have been fully priced in," emphasizing that while a seasonal weakness period is approaching, any pullback should be viewed as a buying opportunity [1]