According to Morgan Stanley strategist Michael Wilson on May 4, robust U.S. corporate earnings, particularly from the technology sector, are offsetting concerns about Middle East conflict impacts on equities. Michael Wilson’s team reported that S&P 500 profit expectations have been raised across multiple timeframes over the past month: Q2 earnings revised up 2%, full-year 2026 forecasts up 3%, and 12-month forward estimates up 4%.
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