The world's biggest brokerage posted a third-quarter net loss, hurt by special charges and declines in sales and trading activity in a low-volume market. On an adjusted basis, Morgan missed Wall Street's forecast.
Stocks fell sharply Tuesday after a surprise rate hike from China's central bank and mixed quarterly earnings reports led to heavy selling in technology, materials and energy stocks.
Earnings season unofficially kicks off after the markets close Thursday when Alcoa reports. And some big-name beat-and-raise earnings reports could be just the spark to ignite that market-moving dry powder.
Stocks kicked off the final quarter of the year with moderate gains Friday as more encouraging data on consumer spending, consumer sentiment and auto sales were partly offset by a slowdown in manufacturing activity.
