Wall Street rewards Bank of America, Morgan Stanley and Citi, while Wells Fargo shares fall

Morgan Stanley, Wells Fargo, Citigroup and Bank of America all posted stronger-than-expected earnings on Thursday, with the financial sector continuing to benefit from increased economic activity as the impact from the COVID 19 pandemic started to recede.

Morgan Stanley
MS,
+2.48%

provided the cleanest beat as its investment banking and asset management units benefited from a boost in the net worth of its wealthy clients and a flurry of capital raising and M&A on Wall…

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