Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Morgan Stanley's third-quarter revenue jumped 50 percent, helping adjusted earnings beat expectations, as higher income from equities sales and trading made up for a drop in the Wall Street bank and brokerage's fixed-income business.
Morgan Stanley reported net income of $888 million, or 44 cents per share, from continuing operations in the quarter. That compared with a loss of $1 billion, or 55 cents per share, a year earlier.
The year-earlier figure included a charge of $2.3 billion to reflect a rise in the value of Morgan Stanley's debt.
Excluding items, Morgan Stanley earned 50 cents per share, beating the average analyst estimate of 40 cents per share, according to Thomson Reuters I/B/E/S.
(Read more: Cashin: This reminds me of the dot-com bubble)
Overall revenue rose to $7.93 billion, from $5.28 billion in the same quarter last year, driven by equities trading and the company's fast-growing wealth management business.
Adjusted revenue from equities trading rose 31 percent to $1.7 billion, while revenue from fixed income, currency and commodities (FICC) trading fell 44 percent to $835 million.
"Our strategy to combine a world class investment bank with the stability of the largest U.S. wealth management franchise and strong investment management is enabling us to deliver exceptional advice and execution for our clients as well as stronger returns for our shareholders," Chairman and Chief Executive James Gorman said in a statement on Friday.
Gorman is scheduled to appear on CNBC to discuss the quarterly results at 11:30 a.m. ET.
Morgan Stanley has had difficulty with fixed-income trading for years, but the issues that affected the business in the latest quarter also shook most of its competitors.
Trading activity in the bond market slowed markedly during the period amid expectations the Federal Reserve would soon start to wind down its stimulative bond-buying program.
Revenue in Morgan Stanley's wealth management business increased 8 percent to $3.48 billion, while the business's pretax profit margin edged up to 19 percent, getting closer to Gorman's target of a minimum 20 percent.
Morgan Stanley completed its acquisition of brokerage Smith Barney from Citigroup in June. It now collects all of the earnings from the former joint venture but must wait until 2015 to accrue all of Smith Barney's client deposits.
(Read more: Did Wall Street make the next budget crisis worse?)
Shares of Morgan Stanley moved higher in pre-market trading immediately following the report. (Click here to get the latest quote.)
—By Reuters. CNBC contributed to this report.