Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, including Morgan Stanley (MS) and Bank of America (BAC), have reached or are near record highs following the release of their earnings reports.
Morgan Stanley reported adjusted third-quarter earnings of $2.80 per share on $18.22 billion in revenue, exceeding estimates. This marks the largest earnings beat in five years for the company.
- Morgan Stanley (MS) is up 6% to $164.92.
- Bank of America Corp (BAC) is up 5.4% to $52.
Options traders are actively engaging with MS, with 52,000 calls changing hands, representing 12 times the average intraday amount and more than triple the number of puts traded.
The stock earlier hit a record high of $166.77, and is now 32.2% higher in 2025.
Author's summary: Bank stocks drive Wall Street gains after strong earnings reports.
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