On May 13, Morgan Stanley became more optimistic about the U.S. stock market, betting that strong earnings growth and economic conditions will continue to drive the bull market forward. The bank expects the S&P 500 index to reach 8300 points in the next 12 months, indicating a 12% increase from current levels. The team led by Mike Wilson also raised its year-end forecast for the S&P 500 from 7800 to 8000 points. A strong earnings season has surprised many market forecasters, prompting them to raise their expectations for the stock market. Companies in the S&P 500 index reported a 27% increase in first-quarter profits so far, more than double the approximately 12% increase previously predicted by analysts.