Reported about 7 hours ago
Bank of America and Morgan Stanley reported significant profit increases for the fourth quarter of 2024, with Bank of America’s profits more than doubling to $6.7 billion and Morgan Stanley's soaring by 145% to $3.7 billion. This surge in earnings reflects a broader revival on Wall Street, driven by increased deal activity and trading revenue, as financial markets respond positively to the upcoming Trump administration. Other major banks also reported strong performances, indicating a robust end to 2024 and optimistic expectations for 2025.
Source: YAHOO