[Morgan Stanley: It's Too Early to Be Bullish on the Market] According to a report by Golden Finance, citing market news from Bloomberg analyst *WalterBloomberg, Michael Wilson of Morgan Stanley has warned that it is too early to be bullish on the market given the ongoing U.S.-China trade tensions, weak earnings forecasts, and credit pressures. He stated that if tensions persist beyond November, the S&P 500 Index could drop by as much as 11%. Wilson hopes that before confidence is restored, trade tensions will ease more clearly, earnings per share trends will stabilize, and liquidity will improve. However, he expects the market to recover within 6-12 months. John Stoltzfus of Oppenheimer Holdings is also optimistic about the market, noting that earnings for S&P 500 Index constituents have risen by 16% so far, exceeding expectations.