Stocks are higher as investors found some encouragement from the latest batch of earnings reports
A handful of banks, including Wells Fargo and Morgan Stanley, reported better results for the July-September period Wednesday. However both those banks also reported high loan losses, bringing fresh reminders that the broader economy is struggling even as the financial industry recovers.
Last week, Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. all reported higher credit losses as consumers and businesses struggle to pay off their bills.
