What to Watch Wednesday: Morgan Stanley, American Express and Intel Report Earnings

Second quarter earnings take center stage on Wednesday, July 20. Morgan Stanley (MS) - Get Report releases financial results before the markets open. Analysts expect earnings of $0.59 a share on revenue of $8.3 billion. During the same quarter a year ago, the bank reported earnings of $0.79 a share with revenue of $9.56 billion. The bank's rivals, JPMorgan Chase (JPM) - Get Report , Citigroup (C) - Get Report , Bank of America (BAC) - Get Report and Goldman Sachs (GS) - Get Report reported second quarter results ahead of estimates. The markets also await results from Halliburton Company (HAL) - Get Report before the markets open, along with American Express (AXP) - Get Report and Intel (INTC) - Get Report , released after the markets close. On the economic calendar, the EIA Petroleum Status report for the week of July 15 is unveiled at 10:30am Eastern. Crude oil inventories are expected to drop by 2.5 million barrels. TheStreet's Scott Gamm reports from Wall Street.