Crisis in Europe far from over: Morgan Stanley

Here are experts equity calls for the day on how the markets are expected to trade:

Gerard Minack, Morgan Stanley: We reiterate our cautious view, we're skeptical that US growth can accelerate, and uncertainty remains high on China. High oil prices are already a risk to growth and the crisis in Europe is far from over. Even valuations are close to long run averages, with only modest upside.

Michael Kurtz, Nomura: The consolidation in Asia that started last month has been shallow as we expected, but it is starting to feel excruciatingly drawn out-now almost four weeks in length. There is considerable speculative premium in oil prices that leaves risks open. We expect China to help through policy easing in Q2 & Q3.