Morgan Stanley Raises S&P 500 Target, Says No Fed Cuts Needed

Morgan Stanley raised its S&P 500 price target Wednesday, joining Wall Street's upper tier of bullish forecasts. The bank argues stocks can advance without Federal Reserve rate cuts, suggesting sustained economic strength. This strengthens the dollar outlook as higher U.S. rates become more likely. USD pairs could see increased volatility as markets reassess Fed policy expectations and risk appetite shifts toward dollar-denominated assets.