Morgan Stanley strategist Michael Wilson said markets are turning cautiously
bullish as recent risks appear largely priced in. The S&P 500 has rebounded
about 7% from its lows and held key support, signaling the correction may be
ending. Strong earnings growth of roughly 15%, with forward growth near 20%,
underpins the outlook. Wilson said positioning favors cyclicals and quality
growth, while noting energy may have peaked.
