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Morgan Stanley Reports Earnings Wednesday. Here’s What to Expect.

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The bank's results are expected to reflect the generally tepid environment for investment banking.

Big banks’ earnings season comes to a close Wednesday morning, with Morgan Stanley reporting its third-quarter numbers. But with the results already in from five other large lenders, few expect big surprises.

The question for Wall Street is when the bank can expect a turnaround. While a surge in activity is unlikely to be seen in third-quarter results, Morgan Stanley executives have recently hinted at optimism for next year. Morgan Stanley’s closet competitor, Goldman Sachs , addressed a rebound in deal-making on a call with analysts Tuesday.

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