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Morgan Stanley heads a good set of US Q1 bank earnings reports- S+P futures gain

The noted list of US bank earnings reports have now all been released and it has been a pretty solid set of results. The last one of those was from Morgan Stanley and they have just topped the lot with a significant top and bottom line beat on earnings per share and revenue. Consequently, the S+P 500 futures have now risen from earlier lows, but it does remain to be seen, if that rebound will be sustained. If it is not, then once again we might conclude the overhang of the current risk position across the markets is still the overriding factor for directional momentum on the index later today. 

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