Morgan Stanley CEO Ted Pick, who runs one of Wall Street's biggest dealmakers, said his own firm was considering acquisitions and would set a high bar for purchases.

The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.

Morgan Stanley Chief Executive Officer Ted Pick said “the tide may begin to shift” in the ocean of private credit.

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-,

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.