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Michael Wilson, a strategist at Morgan Stanley, and his team have asserted that large-cap stocks in the US are poised to shine, primarily due to their potential to capitalize on the fiscal spending bill and a promising earnings outlook. The tax reform bill is anticipated to bolster cash flows and provide a lift to sectors including technology, communications services, healthcare, and energy. The earnings forecast landscape has witnessed a notable upswing, with analysts overwhelmingly increasing their earnings estimates rather than decreasing them, thereby fostering a positive investor sentiment amidst ongoing trade uncertainties. Wilson has reaffirmed his inclination towards the financial and industrial sectors, highlighting the substantial upward revisions in earnings forecasts for these sectors in recent times.
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