BofA reports an EPS of $1.06, beating estimates of $0.94, as profit also rises on dealmaking strength. Net interest income (NII) was $15.2 billion on the quarter and that also beat on estimates and is up 9% year-on-year. Meanwhile, net income coming in at $8.5 and that's a significant bump from $6.9 billion in the same quarter last year.
As for Morgan Stanley, the bank reports EPS of $2.80 and that's a whopping beat of estimates of $2.10. It's pretty much beats across the board as the bank's investment arm performed strongly in Q3. Equities sales and trading revenue were a beat at $4.12 billion, above estimates of $3.41 billion. FICC sales and trading revenue clocked in at $2.11 billion, just above estimates of $2.07 billion. And wealth management net revenue was seen at $8.23 billion, above estimates of $7.78 billion. Overall revenue came in at $18.22 billion in Q3, well above estimates of $16.34 billion.
This will keep the optimism flowing in equities as we look to the day ahead. S&P 500 futures are up 0.6%, Dow futures up 0.5%, and Nasdaq futures up 0.8% currently. Russell 2000 futures are also seen up 0.8% after the over 1% gains yesterday.
