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Morgan Stanley, Wells Fargo, Citigroup and Bank of America all posted stronger-than-expected earnings on Thursday, with the financial sector continuing to benefit from increased economic activity as the impact from the COVID 19 pandemic started to recede.
Morgan Stanley MS provided the cleanest beat as its investment banking and asset management units benefited from a boost in the net worth of its wealthy clients and a flurry of capital raising and M&A on Wall Street. The bank also got a boost from its acquisitions of wealth…
