$MS is going to report, the market expected lower but its trading higher after hours. Tomorrow will be in play above the 5 min high.
Morgan Stanley is expected to report lower second-quarter earnings, according to analysts, as its trading and investment banking revenue is expected to fall sharply. A near-zero interest rate environment, an economic slowdown in China, lower oil and commodity prices are expected to weigh on the Wall Street bank’s earnings. With the company’s bond trading unit not generating as much revenue as it did and equities trading getting hit by market volatility, investors will be interested in the extent of cost cutting that Morgan Stanley will resort to. Investors will also look forward to comments on what the bank plans to do to improve revenue, going forward.