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 participating, with 52,000 calls changing hands, which is 12 times the average intraday amount. The October 175 call is seeing the most attention, with new positions being bought to open.
MS is now 32.2% higher in 2025, with a record high of $166.77.
Author's summary: Bank stocks propel Wall Street upward.