New York Equities: Disillusionment follows the previous day’s rally

Among the sectors, the focus was mainly on the banking sector, as several large financial institutions submitted quarterly reports. Only Morgan Stanley could not convince. The bank disappointed the market in net profit and third quarter earnings. The stock lost 4.6% in the S&P 100. On the other hand, JPMorgan, Citigroup and Wells Fargo performed better than expected. Their shares rose between 1.3 and 3.2 percent.