Wells Fargo and Morgan Stanley will be posting their quarterly results, showing a more positive outlook compared to last year's industry shock caused by the collapse of Silicon Valley Bank. The impact of interest rate hikes will also be a focus this earnings season.
What a difference a year makes. Club holding Wells Fargo will post quarterly results on Friday, followed by our other financial holding , Morgan Stanley , on Tuesday. The industry's first-quarter results will come against a more pleasant backdrop than last year, when the March 2023 collapse of Silicon Valley Bank sent shockwaves throughout the sector. The major banks are also beyond last quarter's messy numbers as they paid for the FDIC's regional bank rescue efforts.
Morgan Stanley has generally been hurt by higher interest rates over the past two years because they have injected uncertainty into the economic landscape, limiting dealmaking activity for its investment banking division to partake in. Investment banking came back "strongly" in the first quarter of 2024, JPMorgan analysts said in a note to clients this month.
Wells Fargo Morgan Stanley Quarterly Results Financial Holding Industry Shock Interest Rate Hikes Earnings Season
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