Morgan Stanley will be the next big bank to report results on Wednesday, along with several regionals. MarketWatch will be breaking down the latest earnings live.

The results cap off a series of earnings from big U.S. banks that showed investment banking businesses are humming again after high interest rates prompted an industry-wide slowdo

Shares of Elevance Health were trading sharply lower after a guidance cut prompted by snags in the Medicaid business overshadowed a quarterly revenue beat at the health insurance provider.Elevance Health stock fell 17% to $414.

It was the latest sign of how medical expenses are squeezing insurers’ earnings, a result likely to punish shares across the sector.

We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” Chief Executive Gail K.