Morgan Stanley: It is still too early to be bullish on the market.

According to a report by Golden Finance, Bloomberg analyst *WalterBloomberg released market news stating that Morgan Stanley's Michael Wilson warned that given the tensions in China-U.S. trade, weak earnings forecasts, and credit pressures, it is still too early to be bullish on the market. He indicated that if tensions persist beyond November, the S&P 500 index could fall by as much as 11%. Wilson hopes that before confidence is restored, the trade tensions can be clarified and eased further, with a more stable trend in earnings per share and more abundant liquidity. However, he expects the market to recover within 6 to 12 months. John Stoltzfus of Oppenheimer Holdings also has an optimistic view on the market, pointing out that earnings for S&P 500 constituents have risen 16% so far, exceeding expectations.