Morgan Stanley reported a lower second-quarter profit but beat expectations by delivering relatively strong bond-trading revenue and cutting expenses.
Tomorrow we will hear from VISA:
Visa Inc, the world’s biggest payments network operator, is slated to report a bigger third-quarter profit, but investors will be more interested in the status of its merger with Visa Europe following the Brexit vote. Visa shares slipped following the company’s decision to amend its initial deal terms with Visa Europe in April and investors viewed with skepticism the company’s decision to cut full-year forecast due to falling cross-border volumes. Visa’s comments on its legal tangle with retailers such as Wal-Mart over whether customers should use PINs or signatures to verify transactions at stores will also be of interest to investors. Data from Reuters.