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- What Morgan Stanley (MS) Said on Its Q3 Earnings Call
Morgan Stanley reported third-quarter 2026 revenue of $20.3 billion, EPS of $3.03 and a return on tangible common equity of 22.6%, its fifth straight quarter above 20%. Wealth management posted record revenue of $9.1 billion and record net new assets of $232 billion, while total client assets rose nearly $400 billion to $10.5 trillion. Institutional Securities revenue rose 18% to $10 billion, with equity revenue up 41%, while investment banking revenue rose 2% to $2.2 billion. Chairman and CEO Ted Pick described two phases in the quarter: strong risk appetite in July and August tied to hyperscaler investment in AI infrastructure, followed by a slowdown after Labor Day amid renewed Middle East tensions. The article also highlights risks from higher rates, geopolitical tensions and elevated asset valuations.
- Global equities may regain momentum as strong earnings offset concerns over rising bond yields : Morgan Stanley
- Global equities may regain momentum as strong earnings offset concerns over rising bond yields: Morgan Stanley
Morgan Stanley says global risk assets could regain momentum as strong growth, corporate earnings and AI-driven productivity offset concerns about rising bond yields. The bank argues higher yields mainly reflect resilient nominal growth rather than a weakening economy, which is why it has moved to overweight global equities versus fixed income. It keeps an overweight on US stocks, stays cautious on Europe due to energy headwinds, sees opportunities in banks and utilities, and flags weaker earnings growth and limited AI exposure for India. Key risks include an oil supply shock forcing excessive central bank tightening, geopolitical tensions and persistent inflation, with diesel supply a particular vulnerability.
- Global equities may regain momentum as strong earnings offset concerns over rising bond yields : Morgan Stanley
Morgan Stanley says the bull market in risk assets could regain momentum as strong growth, corporate earnings and AI-driven productivity support returns despite rising bond yields. The report views higher yields as largely reflecting resilient nominal growth, which led the firm to turn overweight on global equities relative to fixed income. Its main risk is an oil supply shock that forces central banks to tighten policy excessively, with refined products such as diesel particularly vulnerable to disruption. Within equities, the firm stays overweight on US markets, is cautious on Europe because of energy headwinds, and sees opportunities in banks and utilities. It flags weaker forward earnings growth, limited AI exposure and elevated energy prices as challenges for Indian equities.
- Morgan Stanley is set to report earnings — here’s what to expect
Morgan Stanley will report third-quarter results before the market opens on Wednesday. According to LSEG, Wall Street expects earnings of $2.91 per share on revenue of $19.95 billion, including $2.27 billion in investment banking, $4.89 billion in equities trading and $2.27 billion in fixed income trading. The bank is expected to benefit from strong investment banking and equities trading, as rivals Goldman Sachs and JPMorgan Chase showed this week. Investors will focus on CEO Ted Pick’s outlook for mergers and IPOs for the rest of the year amid market churn caused by rising interest rates.
- Global equities may regain momentum as strong earnings offset concerns over rising bond yields : Morgan Stanley
Morgan Stanley says the bull market in risk assets could regain momentum as strong economic growth, corporate earnings and AI-driven productivity support returns despite rising bond yields. The report argues that higher yields mainly reflect resilient nominal growth rather than weakening conditions, which is why the firm has turned overweight on global equities relative to fixed income. Global activity remains firm despite high energy prices and interest rates, but the key risk is an oil supply shock that could force central banks to tighten policy excessively. Within equities, the firm stays overweight on US markets, remains cautious on Europe due to energy headwinds, favours banks and utilities, and flags weaker forward earnings expectations for Indian equities.
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