Morgan Stanley reiterates bullish stance on U.S. equities, predicts S&P 500 to reach 7,200 points by mid-2022. Earnings momentum strong, potential pullback in Q3 could present buying opportunity. Fed rate cuts expected, but rising Treasury yields and tariff-related cost pressures may impact market. Seasonal trends may affect stocks from mid-July to August. Jefferies raises S&P 500 year-end target to 5,600.

Read more at Yahoo Finance: Morgan Stanley stays bullish on US stocks (July 21)