![]() "The rally this year has been led by low quality and heavily shorted stocks. Wall Street is coming off positive back-to-back weeks to start the new year, but investors may have entered a hall of mirrors, according to Mike Wilson, chief U.S. United Airlines will report its quarterly results after the bell. Of those companies 70% have beaten expectations. "Even within the financial sector, individual lines of business are faring very differently and Morgan Stanley's wealth management segment provided a strong ballast." "These divergences are indicative of what we expect in this earnings season - diverging fortunes based on industry and sub-industry," he added.Ībout 7% of S&P 500 earnings have reported earnings through Tuesday morning, according to FactSet. "Goldman and Morgan Stanley have almost mirror-image price action today following their earnings," Yung-Yu Ma, BMO Wealth Management's chief investment strategist, told CNBC. Those results came after other major banks such as JPMorgan and Citigroup reported mixed quarterly reports. Meanwhile, rival Morgan Stanley posted better-than-expected numbers, thanks in part to record wealth management revenue. Its results were pressured by declines in investment banking and asset management revenues. ![]() Goldman slid 6.44% after the bank reported its worst earnings miss in a decade for the fourth quarter. The Dow Jones Industrial Average fell on Tuesday as investors struggled to keep building on early 2023 momentum and weighed the latest earnings results. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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