Wall Street closed higher on Wednesday as investors assessed mixed PPI data and solid second-quarter earnings reports.
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Record net revenues of $21.3 billion drove a 62% earnings-per-share surge.
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<body><p>STORY: U.S. stocks closed higher on Wednesday, with the Dow gaining more than a quarter of a percent, the S&P 500 adding over a third of a percent and the Nasdaq climbing more than six-tenths of a percent.</p><p>A second day of solid bank earnings added momentum to an auspicious beginning to second-quarter reporting season.</p><p>BlackRock and Morgan Stanley both beat quarterly profit expectations, with shares of BlackRock advancing over 6.5% and Morgan Stanley also ending higher.</p><p>Strong earnings combined with more cooler-than-expected inflation data, in the form of June wholesale prices, helped lift stocks, says Melissa Brown, managing director of investment decision research at SimCorp.</p><p>"We saw some good earnings from the financial companies. And, you know, on top of that, there's just still the same buzz around the AI trade, around what's happening with semiconductors. And there's, we haven't really seen a lot of bad news. The inflation news has been better than expected, although I would argue still not good. So inflation is still higher than the Fed's target, even though it has come in a little bit lower than expected. But I think, you know, kind of all those things are conspiring to make it a good but not blowout day today."</p><p>Among the session's other stock moves, PayPal surged more than 17% after sources told Reuters that Stripe and private equity firm Advent International have jointly offered to acquire it.</p><p>And shares of United Airlines dipped in extended trading despite the carrier saying it expected full-year profit at the high end of its prior forecast, as the company's third-quarter outlook was short of Wall Street expectations.</p></body>
Morgan Stanley (MS) reports a robust second quarter with record revenues of $21.3 billion, a 15% dividend increase, and significant growth in Wealth and Investment Management.
Singapore's largest lender plans new wealth centers, AI upgrades and expanded hiring across key Asian markets.
Investing.com -- Morgan Stanley maintained a constructive outlook on the aerospace and defense sector ahead of second-quarter earnings, citing resilient commercial aerospace demand, improving aircraft production, and favorable long-term defense spending trends, while becoming more selective after recent stock volatility and valuation shifts.
Wall Street cleared this earnings season’s first major hurdle with room to spare, as the nation’s biggest banks pummeled profit forecasts. “Bank earnings are often described as a scoreboard for the financial sector,” said Ruben Dalfovo, investment strategist at Saxo Bank. “They are more useful as an economic medical examination, and the early numbers suggest the patient remains active, and dealmaking appears healthier.”
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising
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Morgan Stanley (MS) reported second quarter earnings, with blowout results and record revenue. Yahoo Finance Senior Reporter David Hollerith takes a closer look.
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Morgan Stanley (NYSE:MS) reported record second quarter revenue and profit that topped Wall Street expectations on Wednesday, driven by strength across its institutional securities, wealth management and investment management businesses. The bank posted earnings per diluted share of $3.46 on...
Morgan Stanley's Q2 earnings surge 62.4% as record equity revenues, stronger IB and $10T in client assets fuel growth. MS raised its quarterly dividend 15%.
Morgan Stanley (NYSE:MS) reported record second-quarter 2026 results, with executives citing strong client activity across institutional securities, wealth management and investment management, as well as continued benefits from the firm’s integrated business model. Chairman and Chief Executive Off
The bank hauled in $148 billion of net new assets in its wealth-management business in the second quarter, over half of which were tied to IPOs.