Buried in Morgan Stanley's bearish note forecasting a 7% drop for the S&P 500 to end the...

|By:, SA News Editor

Buried in Morgan Stanley's bearish note forecasting a 7% drop for the S&P 500 to end the year at 1167, well below consensus: Bank of America (BAC) "is forecasted by analysts to drive 14% of the entire S&P 500 EPS growth for 2012 vs. 2011," and the top six financial firms in the index should contribute 26%. In other words, the fate of the stock market this year will be tied to the strength of financial sector earnings.