Here's your summary from Morgan Stanley's Wilson on How to be a Cautious Bull (https://www.youtube.com/watch?v=kuyBysAMZ9E) on the Bloomberg Television channel:

**TLDR:** Late cycle economy with full employment and potential Fed rate cuts favor high-quality stocks, particularly in industrials sector.

1. Late cycle economy with full employment and potential Fed rate cuts favor high-quality stocks like S&P 500.

2. Industrial sector shows promise with government fiscal stimulus and infrastructure upgrades driving revenue growth for capital goods companies.

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