Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, particularly Morgan Stanley (MS) and Bank of America (BAC), are reaching record highs after releasing 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.
- 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's stock 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.
Most of the attention is focused on the October 175 call, where new positions are being bought to open.
Author's summary: Bank stocks lead Wall Street with strong earnings reports.
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