Bank Shares Were Mixed in Morning Trading
Tiger Newspress2023-01-17
Bank shares were mixed in morning trading. Morgan Stanley jumped 6% while Goldman Sachs fell 4%, JPMorgan fell 2%, Bank of America and Wells Fargo fell 1%.
Morgan Stanley beat analysts' estimates for fourth-quarter profit on Tuesday as the investment bank's trading business got a boost from market volatility, offsetting the hit from sluggish dealmaking.
Goldman Sachs Group Inc on Tuesday reported a bigger-than-expected 69% drop in fourth-quarter profit due to heavy losses in its consumer business and a slump in dealmaking that hit its investment banking unit.
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