Wall Street is increasingly optimistic about U.S. stocks, with Morgan Stanley and Goldman Sachs believing that economic resilience will support the stock market

Odaily News Wall Street strategists are increasingly optimistic about the U.S. stock market, with forecasters at Morgan Stanley and Goldman Sachs noting that the resilience of economic growth will limit any pullback in the summer. Morgan Stanley strategist Michael Wilson abandoned his long-standing bearish stance in mid-2024. He said a significant improvement in the outlook for U.S. corporate earnings is positive for the S&P 500 by the end of the year. He reiterated his 12-month price target of 6,500 points, implying an increase of about 8% from current levels. Goldman Sachs strategist David Kostin said recent market movements show that investors are digesting optimistic growth prospects, and economically sensitive sectors are outperforming defensive sectors. (Jinshi)