2 hours ago

Nasdaq Moves Higher; Morgan Stanley Profit Beats Estimates

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 300 points on Wednesday.

The Dow traded up 0.78% to 43,072.45 while the NASDAQ rose 0.32% to 18,374.03. The S&P 500 also rose, gaining, 0.47% to 5,842.65.

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Leading and Lagging Sectors

Utilities shares jumped by 1.6% on Tuesday.

In trading on Tuesday, communication services shares fell by 0.6%.

Top Headline

Morgan Stanley (NYSE:MS) reported better-than-expected third-quarter results.

The company posted adjusted EPS of $1.88, up from $1.38 a year ago, beating the consensus of $1.58, demonstrating the strength of Integrated Firm with strong results across business segments. Net earnings increased almost 33% to $3.2 billion. The U.S. bank reported third-quarter sales of $15.38 billion, up 15.9% year over year, beating the consensus of $14.41 billion.

Equities Trading UP