Morgan Stanley expects the S & P 500 to close above 4200 this year.

(FAP) some Wall Street strategists are pessimistic about the U.S. stock market, but Andrew Slimmon, a senior portfolio manager at Morgan Stanley, believes things can't get any worse. The S & P 500 is expected to close above 4200 this year, Slimmon said. This will be nearly 4 per cent higher than the recent closing level. Slimmon acknowledged that renewed concerns about the banking system could cause the S & P to fall to 3900 before finally rebounding above 4200.