Earnings Season Kicks Off With a Bang

Earnings season kicked off with a bang with reports from some of the largest U.S. financial firms. Earnings are expected from Bank of America (BAC) - Get Report , JPMorgan Chase (JPM) - Get Report , Wells Fargo (WFC) - Get Report , PNC Financial Services (PNC) - Get Report and BlackRock (BX) - Get Report .

Morgan Stanley (MS) - Get Report slashed its staff and cut bonuses. Due to a decline in revenue, Morgan Stanley laid off a number of senior investment bankers and cut bonuses by roughly 15%.

Shares of Fiat Chrysler (FCAU) - Get Report are bouncing back after the automaker's CEO Sergio Marchionne hit back at reports that his company tried to cheat U.S. emissions standards.

Boeing (BA) - Get Report and SpiceJet have reached a deal for more than 200 737 MAX 8 planes that could be worth $22 billion at list prices.

Home-improvement retailer Lowe's (LOW) - Get Report plans to eliminate 1% of its workforce. The company is trying to adapt to shifting shopping habits.