Wall Street's two major short sellers issue a joint warning: If corporate profits are poor, the rise of US stocks will come to an end

The two most pessimistic strategists on Wall Street have warned that if corporate earnings disappoint, the rebound that has driven the U.S. stock market to new highs this year will stall. Despite the S&P 500 repeatedly hitting new records, profit prospects have been weakening, causing increasing concerns for both Morgan Stanley and JP Morgan. Michael Wilson of Morgan Stanley stated that the stock market's rise over the past five months has been driven by looser financial conditions and higher valuations, rather than fundamental improvements. Mislav Matejka of JP Morgan is also worried about the disconnect between earnings expectations and stock prices