US Stock Market Move | Banking stocks rise across the board, with Morgan Stanley (MS.US) up more than 6%.

On Wednesday, US bank stocks rose across the board, with Morgan Stanley (MS.US) rising more than 6%, marking the largest intraday increase since May 12; Bank of America Corp (BAC.US) rose more than 4%, JPMorgan Chase & Co (JPM.US) and Wells Fargo & Company (WFC.US) rose more than 2%, and BlackRock, Inc. (BLK.US) rose more than 1%. On the news front, Morgan Stanley's Q3 performance exceeded expectations across the board, with the rebound in investment banking business being a highlight, and stock business contributing core momentum. Morgan Stanley's net revenue for the third quarter was $18.22 billion, an 18% year-over-year increase, surpassing the estimated $16.64 billion; third-quarter earnings per share were $2.80, with a return on equity of 18%, surpassing the estimated 13.4%. In particular, investment banking business grew by 44% year-on-year, generating revenue of $2.108 billion; stock sales and trading business revenue was $4.12 billion, far exceeding the estimated $3.41 billion. Additionally, Bank of America Corp's third-quarter performance exceeded expectations, as long-awaited growth in merger and acquisition activities boosted the investment banking business, and net interest income exceeded analyst forecasts. Financial reports show that Bank of America Corp's third-quarter revenue was $28.09 billion, an 11.0% year-on-year increase, with earnings per share of $1.06, higher than market expectations.