Morgan Stanley sounds note of caution after stronger than expected profit jump

Morgan Stanley delivered stronger-than-expected results, but sounded a note of caution about the impact of trade tensions and geopolitical concerns on future trading revenue. Morgan Stanley beat Wall Street estimates in the first quarter. But it said trade tensions, such as a tit-for-tat row with China, could push clients to the sidelines. The bank's profit rose 40 percent driven by market volatility.