Next S&P Move Is 10% Rally to Morgan Stanley Citing Economy

The direction for stocks is still up after the Standard & Poor’s 500 Index topped its previous closing high, according to Morgan Stanley chief U.S. equity strategist Adam Parker.

The next 10 percent move in the U.S. equities market will be higher as low analyst earnings forecasts, a rising economy and muted investor sentiment paves the way for further gains, Parker wrote in a note to clients on Monday.