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Morgan Stanley (MS) 2Q 2022 earnings

James Gorman, chairman and chief govt officer of Morgan Stanley, speaks throughout a Bloomberg Tv interview in Beijing, China, on Thursday, Could 30, 2019.

Giulia Marchi | Bloomberg | Getty Photos

Morgan Stanley is ready to report second-quarter earnings earlier than the opening bell on Thursday.

Here is what Wall Road expects:

  • Earnings: $1.53 a share, in accordance with Refinitiv
  • Income: $13.48 billion, 8.7% decrease than a 12 months earlier
  • Wealth administration: $5.99 billion, in accordance with StreetAccount
  • Buying and selling: Equities $2.77 billion, Mounted Revenue $1.98 billion
  • Funding Banking: $1.47 billion

Was a pickup in bond buying and selling sufficient to offset the drop in funding banking charges within the second quarter?

That is the query for Morgan Stanley, which runs one of many bigger fairness capital markets operations on Wall Road.

Wall Road banks are grappling with the collapse in IPOs and debt and fairness issuance this 12 months, a pointy reversal from the offers growth that drove outcomes final 12 months. The change was triggered by broad declines in monetary property, pessimism over the potential of a recession and the Russian invasion of Ukraine.

Morgan Stanley co-President Ted Decide mentioned final month that markets could be dominated by concern over inflation and recession in a interval of transition after practically 15 years of easy-money insurance policies by central banks got here to an finish.

“The banking calendar has quieted down a bit as a result of persons are making an attempt to determine whether or not we’ll have this paradigm shift clarified in the end,” Decide mentioned.

Nonetheless, elements of Morgan Stanley’s operations are anticipated to profit. Bond merchants are anticipated to put up robust outcomes, due to volatility in commodities and rates of interest.

Whereas analysts count on that the financial institution’s large wealth administration and funding administration divisions – liable for half of the agency’s income – will maintain up higher than funding banking, decrease asset values will cut back income there as properly.

Shares of the financial institution have dropped 24% this 12 months via Wednesday, worse than the 19% decline of the KBW Financial institution Index.

Wells Fargo and Citigroup are scheduled to report outcomes on Friday, whereas Bank of America and Goldman Sachs put up on Monday.

This story is creating. Please verify again for updates.

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