MORGAN STANLEY: FED’S PACE ON CUTS KEY FOR MARKETSMorgan Stanley says equity markets hinge on weak U.S. jobs data and whether the Fed cuts rates quickly enough. Traders expect a 25 bp cut this week, but lingering inflation may slow the Fed’s response.The bank sees short-term consolidation in stocks but remains bullish long term, targeting the S&amp;P 500 at 7,200 by mid-2026 on strong earnings. They favor small caps and reflation plays ahead, while dip-buying into year-end.

Morgan Stanley

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MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

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MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

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MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

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Walter Bloomberg