Wall Street Pauses After Major Bank Earnings Boost

Wall Street experienced a brief pause following a surge driven by positive bank earnings. Morgan Stanley reported a significant profit rise, resulting in a 3.3% stock increase. UnitedHealth fell after missing revenue estimates. Investors focused on retail sales and jobless claims to gauge economic prospects.

Wall Street took a breather on Thursday after a previous session surge bolstered by strong bank earnings. The key indexes showed mixed results as Morgan Stanley's fourth-quarter profit increase boosted its stock by 3.3%, while UnitedHealth's revenue shortfall led to a stock decline.

Investors closely examined economic indicators, including retail sales and jobless claims, to determine the likelihood of interest rate cuts this year. Fed Governor Christopher Waller's comments on potential rate adjustments were a focal point of market attention.

The Dow Jones, S&P 500, and Nasdaq exhibited minimal movement, reflecting a wait-and-see approach from traders amid ongoing political and economic uncertainties.

(With inputs from agencies.)