Earnings Report

Morgan Stanley's earnings fell 59 percent in the fourth quarter as the investment had to book $990 million in charges related to the new tax law.

U.S. stocks edged higher in early trading Wednesday, recouping some of the market's losses from a day earlier.

Bank of America says its fourth-quarter profits fell by nearly half from a year ago, as the bank had to book $2.9 billion in charges related to the new tax law.

Goldman Sachs says it lost $1.93 billion in the fourth quarter, as the bank had to record more than $4 billion in charges related to the new tax law.

Goldman Sachs Group Inc. reported lower profit and revenue for its fourth quarter, as quiet trading and a one-time tax hit pushed the firm to its first quarterly loss in six years.

Bank of America Corp's fourth-quarter profit nearly halved as it booked a $2.9 billion charge stemming from the new federal tax law.

U.S. Bancorp reported a 16 percent increase in quarterly profit on Wednesday as it booked a $910-million tax benefit due to new U.S. tax laws.

U.S. stocks climbed broadly in early trading Tuesday, sending the Dow Jones industrial average past the 26,000-point mark for the first time.

CSX Corp. reported Tuesday that its fourth-quarter profit grew 25 percent as it further cut expenses, and on top of it the railroad booked a $3.6 billion benefit from the corporate tax cut Congress approved last year.

General Motors expects strong sales in North America and China to sustain its profit through 2018.

Ford Motor Co. says its pretax earnings will likely fall in 2018 as U.S. sales soften, commodity costs increase and it invests heavily in new electric and hybrid vehicles.

Ford expects lower operating profit on an earnings-per-share basis in 2018, with higher commodity costs and adverse exchange rates offsetting gains from cost-cutting efforts and continued demand for high-margin pickup trucks.

CSX, the third-largest U.S. railroad operator, reported a 6 percent fall in fourth-quarter revenue from the year earlier quarter, when it had an extra fiscal week.

UnitedHealth Group's earnings more than doubled in the final quarter of 2017, and the nation's largest insurer hiked its forecast for the new year due in part to a gain from the federal tax overhaul.

Citigroup reported an $18.3 billion loss in the fourth quarter on Tuesday — effectively wiping out the company’s full-year 2017 profit — as the financial conglomerate had to take more than $20 billion in accounting write-downs related to the new tax law.

Citigroup Inc on Tuesday posted an $18.3 billion quarterly net loss on one-time tax charges, but said adjusted income rose 4 percent from a year earlier as consumer businesses made up for lower revenue from bond and currency trading.

General Motors Co said on Tuesday that it expects 2017 full-year earnings per share to hit the high end of its forecast.

Citigroup lost $18.3 billion in the fourth quarter as the bank had to take more than $20 billion in accounting write-downs related to the new tax law.