Shares of Goldman Sachs and Morgan Stanley fell Wednesday despite stronger-than-expected profit from the two big banks, as investors saw little reason to bid up equity prices further after gains in recent weeks.

Another three megabanks are due to report second-quarter earnings on Wednesday, shedding light on the health of dealmaking, sales and trading, and consumer activity. Bank of America, Morgan Stanley, and Goldman Sachs—the second-,

Executives at the New York bank said that strategic activity has started to pick up over the last month. Morgan Stanley also reported second-quarter revenue and earnings that beat analysts' expectations.

Global oil inventories have swollen at a rapid clip in recent months, but given the bulk of the increase has been in the Asia-Pacific, prices have been able to hold their ground for now, according to Morgan Stanley.

ASML falls sharply after issuing a growth warning, while Goldman Sachs, Morgan Stanley, and Bank of America post better-than-expected quarterly earnings.

Q2 2025 Management View CEO Edward N. Pick emphasized a strong performance despite a volatile start to the quarter, highlighting "$16.8 billion in revenue, $2.13 in EPS and an 18.2% return on tangible" for Q2.

Mike Wilson, Morgan Stanley CIO and chief U.S. equity strategist, joins 'Squawk Box' to discuss on what recent Nvidia news means for tech companies at-large, what to expect from earnings and much more.