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 and marking the largest earnings beat in five years. As a result, MS is trading 6% higher at $164.92, with a record high of $166.77 earlier in the day, and is now 32.2% higher in 2025.
Bank of America Corp (BAC) is also up 5.4% to trade at $52. Options traders are actively participating, with 52,000 calls changing hands, which is 12 times the average intraday amount and more than triple the number of puts traded. The October 175 call is seeing the most attention, with new positions being bought to open.
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In summary, the strong earnings reports from Morgan Stanley and Bank of America are driving Wall Street gains.
Author's summary: Bank stocks boost Wall Street with strong earnings.