Morgan Stanley Chief Executive Officer Ted Pick told investors this week that the Wall Street firm expects a strong finish to the second quarter, citing a pick-up in equity capital-markets activity. Pick said recent transactions are performing well and that the bank’s deal pipeline is expanding in several regions, positioning the business for increased revenues as the quarter closes. Speaking at a separate investor event, Bank of America CEO Brian Moynihan projected mid-to-high single-digit percentage growth in market revenue for the current quarter, even as he warned that investment-banking fees could fall roughly 25%. Moynihan noted greater uncertainty among small businesses than among core consumers and said many corporations are holding back on spending outside artificial-intelligence projects while awaiting clarity on trade tariffs. Adding to the more upbeat tone on Wall Street, HSBC strategists led by Max Kettner upgraded U.S. equities to overweight from neutral, arguing that any second-quarter pullback should be viewed as a buying opportunity. The team said the path of least resistance for global shares over the next three months is higher, reinforcing a growing chorus of banks predicting further gains for the S&P 500 through year-end.