Morgan Stanley Stock Traders Post Windfall on Tariff Turmoil

Morgan Stanley’s stock traders scored their best second quarter on record as the biggest US banks continue to reap the benefits of market volatility tied to President Donald Trump’s policy moves.

The firm earned $3.72 billion in equity-trading revenue, a 23% jump from a year ago and ahead of analyst expectations, according to a statement Wednesday. The firm’s closely-watched wealth management unit reeled in $59.2 billion of net new assets in the period, also surpassing predictions.