The S&P 500’s latest rebound has drawn a cautiously bullish response from major Wall Street firms, with Morgan Stanley and JPMorgan Chase both signaling confidence that the recent correction may be nearing its end.

Morgan Stanley strategist Michael Wilson said the market’s recovery from its recent lows — about 7% off the trough — was holding at critical technical support levels, suggesting downside momentum may have run its course.

Wilson pointed to stronger-than-expected earnings growth, now tracking at roughly 15% on current reports and projected to climb more than 20% on a forward basis, as proof that equities still rest on a sound fundamental base. His team advises…

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