Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, including Morgan Stanley (MS) and Bank of America (BAC), are reaching record highs after releasing their earnings reports.
Morgan Stanley (NYSE:MS) 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.
- Morgan Stanley's stock is up 6% to $164.92.
- The stock reached a record high of $166.77 and is now 32.2% higher in 2025.
- Bank of America Corp (NYSE:BAC) is up 5.4% to trade at $52.
Options traders are actively buying calls, with 52,000 calls changing hands, which is 12 times the average intraday amount.
The earnings reports from Morgan Stanley and Bank of America are setting the tone for Wall Street this week.
Author's summary: Bank stocks drive Wall Street gains.