Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, including Morgan Stanley (MS) and Bank of America (BAC), are at or near record highs after strong 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.
- MS 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.
- 52,000 calls have been traded, 12 times the average intraday amount, with most activity at the October 175 call.
Bank of America Corp (NYSE:BAC) is also up, trading 5.4% higher at $52.
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Author's summary: Bank stocks drive Wall Street gains.