Financials Up on Bank Earnings - Financials Roundup
MS
Published on 04/15/2026 at 05:30 pm EDT
Shares of banks and other financial institutions rose as volatile markets continued to buoy Wall Street banks' earnings.
Morgan Stanley's equity-trading, fixed-income trading and dealmaking units saw a bonanza in the first quarter, driving its earnings per share 41 cents over Wall Street targets.
Similarly, shares of Bank of America rose after the second largest U.S. bank by assets said sales and trading units bolstered quarterly growth.
Both banks echoed strong reports from Goldman Sachs Group, JPMorgan Chase and other Wall Street banks. Consumer and commercial bank PNC Financial Services logged higher first-quarter profit and revenue, boding well for regional-bank earnings.
On the same day that the Senate Banking Committee announced the date of Kevin Warsh's confirmation hearing to become the next Federal Reserve chairman, prosecutors from U.S. Attorney Jeanine Pirro's office sought to escalate the very investigation that threatens to delay his appointment.
Fed Chair Jerome Powell has vowed to remain at the central bank until that matter is resolved, while North Carolina Republican Sen. Thom Tillis has vowed to block Warsh's confirmation until the probe is concluded.
Swiss lender UBS Group Chairman Colm Kelleher said key business decisions might soon become unavoidable as it seeks a response to Switzerland's plan to introduce stricter capital rules.
Write to Rob Curran at [email protected]
(END) Dow Jones Newswires
04-15-26 1729ET