S&P 500 finishes at 7,533.77; chip downturn overshadows broad earnings gains
The S&P 500 ended Thursday at 7,533.77, slipping 0.51% even as almost 75% of its components rose. The Nasdaq Composite dropped 1.47%.
Morgan Stanley (NYSE:MS) Shares Dip with Investors Eyeing IPO Wealth Inflows Pending Fee Conversion
Shares of Morgan Stanley dropped 4.45% on Thursday, even as the bank posted record second-quarter earnings. The decline intensified scrutiny over a key valuation issue: the pace at which IPO-related assets can transition into regular wealth-management fee streams.