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, both of which exceeded estimates. This marks the largest earnings beat in five years for the company.
- Morgan Stanley's stock is 6% higher, trading at $164.92.
- The stock earlier reached a record high of $166.77 and is now 32.2% higher in 2025.
- Bank of America's stock is up 5.4%, trading at $52.
Options traders are actively engaging with these stocks, with 52,000 calls changing hands, which is 12 times the average intraday amount and more than triple the number of puts traded.
The earnings reports from Morgan Stanley and Bank of America are propping up Wall Street this week.
Author's summary: Bank stocks drive Wall Street gains.
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