Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, particularly 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's stock has increased by 6% to $164.92.
- The stock earlier reached a record high of $166.77 and is now 32.2% higher in 2025.
- Bank of America's stock has risen by 5.4% to $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.
Most of the attention is focused on the October 175 call, where new positions are being bought to open.
Author's summary: Bank stocks drive Wall Street gains.
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