Morgan Stanley and Bank of America Report Mixed Q2 Results

Morgan Stanley sees profit surge with investment banking rebound, while Bank of America faces profit dip amid rising credit loss provisions.

Morgan Stanley's Q2 profit rose to $3.1 billion, driven by a 51% surge in investment banking revenue.
Bank of America's Q2 net income fell to $6.9 billion, impacted by a 3% drop in net interest income and higher credit loss provisions.
Morgan Stanley's wealth management revenue saw marginal growth, aligning with Wall Street expectations.
Bank of America beat earnings per share estimates with $0.83, supported by strong performance in investment banking and wealth management.
Both banks anticipate future growth, with Bank of America forecasting a rise in net interest income for Q4.