Morgan Stanley faces significant challenges as a federal judge ruled against it in a long-standing legal dispute with hundreds of financial advisors.
Stocks rallied hard after the election but the bond market reaction suggests further gains on the equity side of the Trump Trade could be difficult.
Wealth management and brokerage firms, including Charles Schwab, Robinhood, and Morgan Stanley, experienced a surge in stock prices on Wednesday.
President-elect Donald Trump has sent mixed signals for years on whether he would aim to fire Jerome Powell when he re-enters the Oval Office.