On the bearish side, NY Fed President Williams said despite inflation progress, there's still a way to go, and the Fed will need to keep interest rates restrictive "for some time." Morgan Stanley (MS) closed down more than -6% after reporting Q3 wealth management net revenue of $6.40 billion, below the consensus of $6.58 billion. Sherwin-Williams (SHW) closed down more than -4% after Bank of America Global Research downgraded the stock to underperform from neutral.