Bank of America and Morgan Stanley are next up in a series of bank earnings reports due out this week. The firms report fourth-quarter results on Thursday morning.
Their competitors—JPMorgan Chase, Wells Fargo, Citigroup, and Goldman Sachs—reported earnings that set a high bar. All four banks’ per-share earnings topped expectations.
Investors applauded the results. On Wednesday, the KBW Nasdaq Bank Index notched its largest one-day gain since early November. The rally on Wednesday paired with a strong showing from asset manager BlackRock, which also reported quarterly results. BlackRock’s stock rose 5.2% and paced for its best day since December 2023.
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