Goldman Sachs (GS) beat fourth-quarter earnings results, while simultaneously posting the bank's lowest annual profit since 2019. Morgan Stanley's (MS) reported fixed-income and equities trading revenue fell short of Wall Street expectations, overall beating top-line forecasts. Many on Wall Street look towards bank earnings as an outlook for the remainder of the year and while these results were disappointing for some, is there more to the story? HSBC Head of US Financials Research Saul Martinez, joins Yahoo Finance to discuss what bank earnings indicate for the broader market narratives. Martinez discusses these earnings results: "Goldman's outlook and Goldman's results, I would say would reenforce the turnaround and the transformation that they're seeing where they're looking to reconfigure their asset wealth management business where they're reducing losses in the consumer business and continuing to gain share and position themselves well for a rebound in investment banking, whereas Morgan Stanley showed that wealth management, which is a big driver for them, still faces some challenges..." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

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