Good Profits From Wells Fargo And Morgan Stanley Support Rise In The Market (WFC, MS, INDU, SPX, COMP)

As Wells Fargo (NYSE: WFC) and Morgan Stanley (NYSE: MS) start showing signs that the administration’s Economic Stimulus Plan is working as the market is showing signs of recovery. Market Indices gained as they were backed by better than expected earnings from banks. The Dow Jones industrial Institute (INDU) gained 48 points, the S&P 500 (SPX) gained 7 points and the NASDAQ Composite (COMP) increased by 17 points.

Wells Fargo profits grew to $3.2 billion in the previous quarter while Morgan Stanley posted profits for the first time this year.