Morgan Stanley's profit; China deal raises optimism for U.S. banks
Breaking News This Morning "Profiting
Morgan Stanley beat expectations withfourth-quarter profit growth up 46%.
Receiving Wide Coverage ...Bank earnings, continued
The second day of fourth quarter big bank earnings wasn't nearly as good as the first one, when JPMorgan Chase and Citigroup announced strong results. Bank of America's profit fell 4% "as the bank struggled to adjust to falling interest rates," the Wall Street Journal says. Revenue also fell modestly.